1. Show ina diagram the effect on the demand curve, the supply curve, the equilibrium price, and the equilibrium quantity of each ofthe followingevents.
   1. The market for newspapers inyour town

Case 1: The salaries of journalists go up.

Case 2: There is a big news event in your town, which is reported in the newspapers.

1. The market for St. Louis Rams (a professional football team) cottonT-shirts Case 1: The Rams win the Super Bowlcompetition.

Case 2: The price of cotton increases.

1. The market forbagels

Case 1: People realize how fattening bagels are.

Case 2: People have less time to make themselves a cooked breakfast.

1. The market for the Krugman and Wells economicstextbook

Case 1: Your professor makes it required reading for all of his or her students. Case 2: Printing costs for textbooks are lowered by the use of synthetic paper.