F: Assume the time frame for this question is the short-nin. For each of the following changes: state whether demand will increase, decrease, or stay the same state what will happen to the equilibrium price state what will happen to the equilibrium quantity. a. Every manufacturer of laptop computers announces that d'tey are adopting a new technology that will increase performance, extend battery life, and significantly lower costs of production; the expectation is that prices of these new computers will fall at least 50% when they hit the market in one year. What happens to the market for the existing laptop computers? Diet Sprite normally sells for $4.95 a twelve pack, Big K Diet Lemon-Lime sells for $2.53. What will happen to the market for Big K Diet Lemon-Lime when Diet Sprite goes on sale for $2.25 a nvelve pack? The income elasticity of craft beer made in local breweries is found to be greater than zero. Take home pay drops due to a personal income tax increase. What happens in the market for craft beers made in local breweries? The income elasticity of Always Good canned green beans (a generic brand) is found to be less than zero. Take home pay drops due to a personal income tax increase. What happens in the market for Always Good canned green beans? Several medical reports, all from different sources and published independently, present statistically significant relationship between drinking one class of wine a day and longer life- These reports are widely disseminated and thought by both healthcare professionals and the general public to be very reliable. What happens in the market for wine? The price of Faber No. 2 pencils drops by 20%