Draw the Graph - Part 1 a. What is the difference between a "change in demand" and a "change in quantity demanded?" Graph your answer. For each of the following changes, determine whether there will be a change in quantity demanded or a change in demand. a change in the price of a related good a change in tastes iii. a change in the number of buyers IN .What is the difference between a "change in supply" and a "change in quantity supplied?" Graph your answer. b. For each of the following changes, determine whether there will be a change in quantity supplied or a change in supply. a change in input costs ij a change in producer expectations lii. a change in price Draw the Graph - Part 2 3. Suppose we are analyzing the market for hot chocolate. Graphically illustrate the impact each of the following would have on demand or supply. Also show how equilibrium price and equilibrium quantity would change. a. Winter starts and the weather turns sharply colder. b. The price of tea, a substitute for hot chocolate, falls. c. The price of cocoa beans decreases d. The price of whipped cream falls e. A better method of harvesting cocoa beans is introduced