Esercise 2 Suppose we are analyzing the market doe de chonate Graphically ilustrate the posteach of the following would have a demand er sami. Alestow how equilibrium price and equilibrium quantity would change. 1. The price of a substitute for hot chocolate, increases 2. The price of cocoa beans decreases 3. A hente method of harvesting cocoa beans is introduced 4. The Surgeon General of the US announces that hot chocolate cures acne. 5. Consumer income falls because of a recession, hot chocolate is considered a normal good, 6. Producers expect the price of hot chocolate to increase next month 7. Currently, the price of hot chocolate is $0.50 per cup above equilibrium