the questions on a separate sheet of paper. The answers must be typed. Draw and label the necessary diagrams (which can be hand-drawn.) Microchips used to produce smartphones have become more powerful and less costly to produce. How would supply or demand shift and how would equilibrium price and quantity change? Consider the market for crude oil. Draw and label the diagram. What happens in the market if Russia cuts off oil shipments in response to the conflict in Ukraine? Draw and explain. What happens in the market if the United States mandates that only electric cars be used? Draw and explain. What happens in the market if the United States mandates that only electric cars be used? Draw and explain. What happens in the market if OPEC increases oil production by twenty percent? Draw and explain. What happens in the market if The United Kingdom decides to total stop using oil? (Hint: Consider the size of the United Kingdom market) Draw and explain. Explain and use diagrams to show what has been happening in the United States market for fresh eggs. Explain and use diagrams to show what happens in the market for international airline travel if