Problem 4. Consider the market for family cars. For each of the events listed here, identify which determinant of demand or supply are affected. ILLUSTRATE/DRAW the effect on supply or demand curves, and whether price and quantity increased or decreased. 3 points.

(a) Filipino parents decided to have more children;

(b) A strike by workers in car parts manufacturing firms raises the price of car parts;

(c) The Philippine government finally improved public transportation such as MRT & LRT, compressing the travel time between Cubao & Makati to 5-10minutes.

Show the computations/solution.