Following are four graphs and four market scenarios, each of which would cause a shift in either the demand or the supply curve of plastic bottled water. For each scenario, do the necessary changes on the graphs belowby showing the new market equilibrium reached.You are also expected to mention the changing factor.

a.An improvement of the water bottling industry occurred lately.

b.The price ofglass bottled water increased and this is a substitute in production for the firm.

c.The price of plastic has increased.

d.Assume that plastic bottled water is an inferior good, and that the Kuwaiti economy witnessed an increase in the average household income from 20,000KD to 25,000 KD.

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