Looking for answers with the following events. 1. Impact in the gold market if people expect a higher future price of gold.2. Effect in the market for wood burning stoves if there is a decrease in the price of electricity and natural gas.3. Effect in the rice market if scientists discover a new, more productive rice variety.4. Impact in the beef market if there is an increase in the price of chicken and an increase in the price of feed for cattle.5. Effect in the potato market if potatoes are an inferior good and incomes rise at the same time that low temperature kills some potato buds.6. As more and more people bought home computers during the 1990s, the demand for access to the World Wide Web and the Internet increased sharply. At same time, new companies like Earl's began to enter the internet-access market competing with older, more established services such as American Online. Despite a massive increase in demand, the price of access to the Web actually declined.

Effect of a Change in Demand and/or Change in Supply on Market Equilibrium For each of the following events described, use the demand and supply graphs provided below to match these events. Indicate what has happened to supply, what has happened to demand, what has happened to the equilibrium market price (EMP) and equilibrium market quantity (EMQ). Graphs A B C D P P P X. E F G H P -0 K Guide to answer Example: What happens in the movie market if movies are a normal good and consumers receive more income? (Use this format to provide the answers.) A; Demand=increase; Supply=no change; EMP=increase; EMQ=increase