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Using supply and demand diagrams show the effect of the following events on price and quantity in the market for sweatshirts, which are made out of cotton. a A hurricane in South Carolina damages the cotton crop. b. The price of leather jackets fails, a substitute for sweatshirts. c. All colleges require morning exercise in appropriate attire (i.e. sweatshirts and sweatpants, NOT your pajamas!). d. A new knitting machine is invented that doubles sweatshirt output. e. People buy more sweatpants (a fashionable compliment), as sweatpants suddenly become acceptable dress in social circles. f. People expect to do a lot of loang around the house with the March Madness basketball tournament approaching, plus an appropriate sweatshirt allows you to support your favorite team. Consider the following news headlines: a. \"As Surging Ethanol Demand Leads to Huge Increases in Com Prices, Farmers Are Rapidly Expanding Corn Production." b. \"A String of Tornadoes Threatens the Local Corn Crop.\" Which of these statements refers to a movement along a supply curve? Which of these statements refers to a shift in a supply curve? Explain by drawing the supply curve for each of these statements. Consider the market for DVD movies, HDTVs (high denition TVs, such as plasma and LCD TVs), and tickets at movie theaters. a. For each pair, identify whether they are complements or substitutes: i. DVDs and HDTVs ii. DVDs and movie tickets iii. HDTVs and movie tickets b. Over the past several years, technological innovation has dramatically reduced the cost of manufacturing HDTVs. Draw a diagram to show what happens to price and quantity in the market for HDTVs. c. Use supply and demand diagrams to show how the change in the market for HDTVs given in part b) affects the price and quantity in the market for DVDs and the price and quantity in the market for movie tickets. d. What does your answer to part c. suggest a reason is for decreasing movie theater attendance over the past several years