The following events occur one at a time in the market for Caribbean cruises:

a. Caribbean cruises become more popular.

b. The price of a Caribbean cruise rises.

c. The price of a cruise to Asia falls.

d. Celebrity Cruises launches its new "students only" Caribbean cruises.

e. People expect the price of a Caribbean cruise to fall next season.

f. Cruise companies increase the number of leading rock artists booked for their on board entertainment.

Part 1.Explain the effect of each event on the demand for Caribbean cruises, and which demand determinant is illustrated by each.

Part 2. Is the law of demand illustrated by any of the events? Explain.