1. Government regulations in Australia on the educational qualifications of thoseworking in childcare centres require higher levels of formal training than a fewyearsago.Supposethattheseregulationsincreasethequalityofchildcareandcausethedemandforchildcareservicestoincrease.Atthesametime,assumethatcomplyingwiththegovernmentregulationsincreasesthecostsofchildcarebusinesses. Draw a demand and supply graph to illustrate the effects of thesechanges in the market for childcare services. Briefly explain whether the totalquantity of childcare services purchased will increase or decrease as a resultofthe regulations.