Scenario $3$: Combine scenarios $1$ and $2.$ Suppose that the U$.$S$.$ government reduces the tariff on imported chocolate, and a reputable study is published indicating that people who regularly eat chocolate are less likely to develop Alzheimer's Disease.

Written Analysis for Scenario $3$: Will this affect the supply or the demand for chocolate?

$($Hint: Because both curves will be affected, you will need to address all of the possible outcomes in your written answers.$)$ Which determinant of demand or supply is being affected? How will the curve be affected? How will this change the equilibrium price and quantity of chocolate? Explain what the different possible combinations are for the new equilibrium quantity and price.

Graphical Analysis of Scenario $3$: Show the effect graphically in the market graph with before$-$ and after$-$curves in the same graph: On graph paper, draw your starting curves in regular pencil and the new affected curve using a colored pencil. Mark the original equilibrium quantity and price in regular pencil with labels on each axis. Then, using your colored pencil, mark the new equilibrium quantity and price similarly. Identify which possible outcome you have graphed.

Final Comments on Scenario $1$: Which possible outcome do you think is most likely? Will the curves shift equally? Will supply shift more than demand? Will demand shift more than supply? How is the magnitude of each shift measured?