Directions: Read each paragraph. Decide if supply and/or demand will change. If there is a shift in supply and/or demand, write what determinant caused this shift. Then, draw an graph and label each axis. Start each graph with a supply and demand line, and label S1, D1, Peql, and Qeql. Illustrate each of the following situations and write what happened to Price Equilibrium (Increase, Decrease, or Indeterminate) and Quantity Equilibrium (Increase, Decrease, or Indeterminate). As necessary, label S2, D2, Peq2, and/or Qeq2 and uses arrows to show shifts. 1) Apple announces the release of the highly-anticipated iPhone 6, which is supposed to be the most advanced and user-friendly Smart Phone yet. On the day of its release, however, several shipments are lost at sea due to poor weather. (iPhone 6) Change in Demand? Change in Peq: Increase Determinant: Demand Increase Change in Supply? Change in Qeq:Decreae Determinant: Supply Increase 2) The government gives Lipton Tea a subsidy. New research shows that coffee is harmful to one's health. (Tea) Change in Demand? Change in Peq: Determinant: Change in Supply? Change in Qeq: Determinant