III. What will happen to Demand(D), Supply(S), new Equilibrium Price(P*), and new Equilibrium Quantity(Q*) when the market condition changes as the following.

Explain the reason and draw relevant graphs supporting your analysis.

A. Market: Plywood in Florida

Event: The Hurricane Center increases the probability of Hurricane to make a landfall in Florida

B. Market: Bauxite

Event: GM is able to increase the mph of its vehicles by using more aluminum in cars and so plans to use more aluminum.

Bauxite is a resource in producing aluminum.

C. Market: Skateboards

Event: The price of fiberglass rises

(Fiberglass is a substance used for making skateboards)

D. Market: Hamburger

Event: 1. A new processing technology lowers the production cost of hamburger patties

AND, simultaneously,

Event: 2. The Surgeon General advocates eating only 2 ounces of red meat per day for health concerns

E. Market: Chicken