The following graph illustrates the market for walnuts. It plots the monthly supply of walnuts and the monthly demand for walnuts. Suppose new gathering technology is invented, allowing growers to produce more crops using the same amount of resources.Show the effect this shock has on the market for walnuts by shifting the demand curve, supply curve, or both.Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. PT 2 QuestionsSeveral growers are happy with this advancement in technology because now they can sell more crops, which they believe will lead to increases inrevenue. Using elasticities, you will be able to determine whether this price change will lead to a rise or fall in total revenue in this market.Using the midpoint method, the price elasticity of demand for walnuts between the price levels of $20 and $12 per ton is ______, meaning that between these two points, demand is ______. Thus, you can conclude that the grower's claim is ______, because total revenue will _______due to the technological improvement.

Module Three Quiz Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. 40 -O Demand 32 Supply 24 Supply PRICE (Dollars per ton) 16 Demand 12 24 36 60 QUANTITY (Thousands of tons)