Using fully labelled diagrams, illustrate what may be the outcome in each of the questions given below (remember to use a ruler and include accurate labels). 1 What would happen to the supply of bicycles if there were a large increase in the tax on bicycles? 2 What would happen to the supply of foreign holidays if there were a fall in the price of foreign holidays? 3 What would happen to the demand for DVDs if there were a significant fall in the price of DVD players? 4 What would happen to the demand for cars if there were a significant increase in the level of income tax? 5 What would happen to the supply of white bread if a firm were to discover that there has been a large increase in the demand for brown bread, which they could also produce? 6. What would happen to the supply of a certain brand of bottled water if there were an improvement in the technology used to produce it? 7. What would happen to the demand for carrots if there was an increase in the size of the population