The opioids overdose crisis is currently a serious U.S. epidemic. Data from the Centers for Disease Control and Prevention (CDC) show that drug overdose deaths reached a record level of 93,331 in 2020. Synthetic opioids, most were produced in China, accounted for 60% of overdose deaths.

To combat this opioids overdose crisis, the U.S. government launches a massive advertising program to let the public know about the dangers of opioids abuses. Please use the demand/supply analysis to analyze the impact of this hypothetical advertising program on the price and consumption of opioid, assuming there is only one opioid in the market.

Analyzing the Impact of the Hypothetical Opioid Advertising Program.

(a) Does the program impact the opioid demand curve, the opioid supply curve, or both? Which determinants of demand or supply does the program impact? Please consider the impact of the program on the demand curve independently from the impact on the supply curve. Do not think "Because of the demand curve is impacted, the supply curve is also impacted".

(b) What is the direction of the impact? An increase (shift to the right) or a decrease (shift to the left) of the impacted curve (s)?

(c) Draw the demand and supply curves and label the equilibrium point, price, and consumption before the advertising program is implemented. Please refer to the graphs in the text book before drawing.

(d) Draw the demand and supply curves and label the new equilibrium point, price, and consumption after the advertising program is implemented on the same graph.

(e) Compare the old and new equilibria and draw conclusion on the impact of this advertising program on the price and consumption of opioids. Your explanation should be in full sentences.