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Jeno) 3. Over the past few years in the market for solar panels, we have seen lower prices and more lodging and ward CH Das
Jeno) 3. Over the past few years in the market for solar panels, we have seen lower prices and more lodging and ward CH Das panels being sold. tools and shriculli bac mustaxe bass mo ting pansigmoo edbodirozob mad a) Draw a supply and demand diagram for the market, showing the initial equilibrium price and quantity (indicated with P.*, Q.* on the P and Q axes respectively.) Sobad chintan ban oncumindillups b) What one curve (supply or demand) must have shifted, and in what direction, to cause both a decrease in price and an increase in quantity sold in the solar panel market? Illustrate this on your graph in part (a) (Show the new curve and the resulting new equilibrium price and quantity (indicated with P,*, Q,*) c) Briefly describe two different events that might cause the shift you described above in the market for solar panels
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