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The country of Gerentalia produces two goods in competitive markets: gizmos, used by young people, and widgets, used by older people. In each graph, the

The country of Gerentalia produces two goods in competitive markets: gizmos, used by young people, and widgets, used by older people. In each graph, the starting equilibrium is labeled "E." How will the economy adjust to an aging population?

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a.In the market for gizmos,

supply will shift to Supply B.

demand will shift to Demand A.

demand will shift to Demand B, and supply will shift to Supply B.

demand will shift to Demand B.

b.In the market for widgets,

demand will shift to Demand A.

supply will shift to Supply B.

demand will shift to Demand B.

demand will shift to Demand B, and supply will shift to Supply B.

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