(Figure: Shifts in Demand and Supply IV) Use Figure: Shifts in Demand and Supply IV. The figure shows how supply and demand might shift in response to specific events. Suppose that a large amount of people move away from Toronto such that the population decreases by 20%. Which panel BEST illustrates how this event will affect the market for houses in Toronto? Four supply and demand graphs labelled a through d. Panel a has a supply curve and two parallel demand curves, with demand curve two closer to the vertical axis than demand curve one is. Panel b has a supply curve and two parallel demand curves, with demand curve one closer to the vertical axis than demand curve two is. Panel c has a demand curve and two parallel supply curves with supply curve one closer to the vertical axis than supply curve two is. Panel d has a demand curve and two parallel supply curves with supply curve two closer to the vertical axis than supply curve one is. a. a b. b c. c d. d