The graph shows the demand for and supply of bottled water. Price (dollars per bottle of water) Draw a point to show the market equilibrium. Label it 1. 5 Draw a new demand curve that shows the effect in this market when the price of a gym membership falls. Label it D,. Draw a new supply curve to show what happens in this market if a technological advance cuts the cost of producing 4- bottled water. Label it S1. Draw a point to show the new market equilibrium. 3- Label it 2. If both demand and supply increase, the equilibrium quantity and the equilibrium price 2.5 O A. increases; might rise, fall, or not change IN O B. increases; rises DAO O C. increases; falls 1- O D. might increase, decrease, or not change; might rise, fall, or not change 2.48 2.98 O E. might increase, decrease, or not change; rises Quantity (millions of bottles of water per year) >>> Draw only the objects specified in the