NOTE: i want type written answers not image of hand-written

Question 1

(a) The quantity of most goods is determined by the interaction of demand and supply decisions in a given market. Draw a market diagram and use it to explain how equilibrium price and quantity are determined in this market.

(b) Explain how price and quantity will be affected by the following events: i. The imposition by the government of an effective minimum price. ii. An increase in the price of a raw material.