Sometimes the exports of developing nations are concentrated in only one or a few primary products. For example, according to World Bank data, copper constitutes 56% of Zambia's total exports. Therefore, changes in demand or supply of copper can have signicant effects on the health of Zambia's economy. The current world price of copper is $5.00 per kilogram, but there is uncertainty about the shape of the demand and supply curves. The following graphs (scenario A and scenario B) show two possibilities for demand and supply in the market for copper. Suppose that a new jewelry fad causes a sudden increase in the global demand for copper. 0n the following graph, shift the demand or supply curve of scenario A to show what happens in the market for copper as a result of this even t. Scenario A 10 9 O 8 Supply Demand 7 O 6 Supply PRICE (Dollars) 5 4 3 Demand 2 0 0 1 2 3 4 5 6 7 8 9 10 QUANTITY (Kilograms of copper)Scenario B 10 9 O Co Demand Supply 6 5 Supply PRICE (Dollars) Demand 2 0 0 1 2 3 4 5 6 7 8 9 10 QUANTITY (Kilograms of copper)In the following table, enter the new price for copper under each scenario as a result of the new jewelry fad. (Hint: Select the black point (plus symbol) representing the new equilibrium on the previous graphs to see its coordinates.) Original Price New Price Scenario (Dollars per kilogram ) (Dollars per kilogram) A 5.00 B 5.00 True or False: Because the supply of copper is more elastic in scenario A versus scenario B, changes in demand cause more volatile price uctuations for Zambia under scenario A. -7' True -7' False