For the following questions, utilize a diagram for each market to demonstrate the respective effects of the described event. Afterward, verbally describe your response.

Example $$ The appreciation of the Taiwanese currency has increased the price Foxconn must charge Apple and other clients for manufacturing electronics. This has benefited their Indian competitor, Majumdar Ltd$,$ who has picked up Foxconn$$s lost sales.

The currency appreciation increases Foxconn$$s cost causing supply to shift leftward. Majumdar, Ltd sees an increase in demand as customers switch from Foxconn to Majumdar.