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2. Table 1 focuses on the factors that will shift either the demand curve or the supply curve. In each case, determine which curve will shift, and write in demand or supply as appropriate; then write in whether the shift will be to the right or the left. In addition, determine whether equilibrium price and output will be higher or lower. The first case has been completed as an example. (20 points) TABLE 1 No. Shift Factor Demand or Shifts Right or Price Output Supply Left Will Be Will Be 2.0 Population increases. Demand shifts Right Higher Higher 2.1 Input prices go up. shifts 2.2 Tariffs are removed. shifts 2.3 Average income falls. shifts 2.4 Technology improves. shifts 2.5 Product becomes more shifts desirable/popular