SHOW IN A DIAGRAM THE EFFECT ON THE DEMAND CURVE, THE SUPPLY CURVE, THE EQUILIBRIUM PRICE, AND THE EQUILIBRIUM QUANTITY

Will Shakespeare is a struggling playwright in sixteenth-century London. As the price he receives for writing a play increases, he is willing to write more plays. For the following situations, use a diagram to illustrate how each event affects the equilibrium price and quantity in the market for Shakespeare's plays.

Case 1: The playwright Christopher Marlowe, Shakespeare's chief rival, is killed in a bar brawl.

Case 2: The bubonic plague, a deadly infectious disease, breaks out in London.

Case 3: To celebrate the defeat of the Spanish Armada, Queen Elizabeth declares several weeks of festivities, which involves commissioning new plays.