Suppose the market for electric vehicles can be described as a perfectly competitive market. Assume this market is currently in equilibrium. During the pandemic, the automotive industry had a microchip shortage, an important component of electric vehicles. Suppose our perfectly competitive electric vehicle market experiences the same supply chain issue, shifting supply to the left. At the new equilibrium, the price is now _________ The overall effect on consumer surplus is _________ Now suppose a new battery technology improves vehicle driving range by 20%, making electric vehicles more preferable to consumers, while maintaining the same costs of production for firms. The demand curve shifts to the ________ The overall effect on consumer surplus is _________