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16. How shifts in demand and supply affect equilibrium Consider the market for pens. Suppose that increased medical concems over lead pencils have led
16. How shifts in demand and supply affect equilibrium Consider the market for pens. Suppose that increased medical concems over lead pencils have led schools to steer away from pencil use in vor of pens. Moreover, the pnce of plastic , an important mput in pen production, has increased considerably On t}followtng graph labeled Scenario I, indicate the effect these Iwo event have on the *mandfor and supp' ofpew. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original positmjust drag it a little Scenario I Supply QUANTITY (Millions of pens)
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