OpenVellumHMAC=6628ce79147e837082f1e2236a33bd... E G u x * 1 8 : mentary Macroeconomics Lahionel Abreu 01/08/23 11:57 AM ? Question 18, Text Problem 3 HW Score: 35.09%, 12.63 of Part 1 of 3 36 points O Points: 0 of 3 Save Suppose an unusually wet spring causes an increase in demand for umbrellas. At the same time, unexpected Figure 1 flooding interrupts supply chains, which decreases the Price ($) 20- supply of umbrellas. No matter what, the price will increase. However, whether the quantity increases or 18- decreases depends on the relative size of each shift. 16- Given the information provided, illustrate on Figure 1 14- the scenario where an increase in demand for 12 - umbrellas along with a decrease in the supply of umbrellas leads to an increase in the equilibrium F1 quantity of umbrellas. 1.) Using the line drawing tool, on Figure 1, draw the new demand curve that illustrates an increase in demand for umbrellas. Label the line 'D2.' D 2.) Using the line drawing tool, on Figure 1, draw the 2 3 4 5 6 8 9 new supply curve that illustrates a decrease in the Quantity supply of umbrellas. Label the line 'S2'- 3.) Using the point drawing tool, on Figure 1, label the new equilibrium that shows an increase in the quantity of umbrellas. Label the point 'E2'- Carefully follow the instructions above and only draw the required objects. Check answer Clear all Get more help - ages