Part 4: Analysis question (8 marks)The graph below shows the demand and supply in the market for cell phones.For each of the following events, draw a diagram of the new market outcome and say whether the equilibrium price will increase or decrease.(i) Improvements in the production of LCD screens increase efficiency and reduce costs.(ii) The Canadian government decides to cut the number of cell phone service providers.(iii) Consumers find that tablets are inferior than cell phones.(iv) A research study finds that too much exposure to cell phone may lead to certain types of cancers.

The graph below shows the demand and supply in the market for cell phones. 25 Quantity of cell phones (millions) For each ofthe following events, draw a diagram ofthe new market outcome and say whether the equilibrium price will increase or decrease. (i) Improvements in the production of LCD screens increase efciency and reduce costs. (ii) The Canadian government decides to cut the number of cell phone service providers. (iii) Consumers nd that tablets are inferior than cell phones. (iv) A research study nds that too much exposure to cell phone may lead to certain types of cancers