LESSON 2: WORKSHEET 2 General Instructions: Read each part and provide what is being required. Write your answers at the end of this document, or on a separate document. Be ready to share your answers on the synchronous class. Be guided by the rubrics at the end of the requirements. ANALYSIS: What happens to the equilibrium price and the equilibrium quantity of photographic film if (a) the price of digital cameras decreases and (b) the price of photographic developer (an input in making photographic film) increases while all other things remain constant? Answer based on the questions that would follow. Scoring Rubric: The answer is correct and with complete and correct explanation. The answer is correct but with insufficient explanation. The answer is incorrect but with explanation. No answer/Incorrect answer with no explanation. Scoring Rubric: 3 The answer is correct and with complete and correct explanation. N The answer is correct but with insufficient explanation. The answer is incorrect but with explanation No answer/Incorrect answer with no explanation. The answer is correct and with complete and correct explanation. N Only one answer is correct among the two assumptions given in terms of the effect to the equilibrium quantity. Explanations are given. Both answers are incorrect but with explanation. No answer/ Incorrect answer with no explanation. Scoring Rubric: Scoring Rubric: The answer is correct with explanation for all possible scenarios. NW The answer is correct with explanation. However, scenarios are not presented or not explained well. The answer is incorrect but with explanation. No answer/Incorrect answer with no explanation