Using supply-and-demand diagrams explain how the following events would affect the supply or demand in each market (draw the original demand and supply and in the same graph draw the NEW demand or supply-showing your shifts) and how the quantity and price of in equilibrium will be affected. Please note that each event is independent from each other:

a) According to author William Kole (The Big 100: The New World of Super Aging, 2023):

"By 2024, The United States will have more seniors than youth for the first time in its history. By 2035, the population of persons aged 85 and older will have nearly doubled in a span of 25 years to 12 million. And by 2050, the population of centenarians -those who live to 100 or older- will swell to 3.7 million, more than everyone now living in Connecticut."

After reading this information, what changes would you envision will take place in the market for Emergency Alert Systems in the US?

b) What happens in the market for generic medicines if: there is a world-wide recession that decreases consumers' incomes (assume generic medicines are an inferior good)?

a) An ongoing, chronic shortage of long-haul drivers is creating major issues with trucking capacity, leading to delays when transporting goods across countries. Also, because building materials like steel beams, concrete slabs, pipes, logs, etc. are large and very heavy, it's common for companies to use oversized flatbed fleet trucks or tractor trailer fleet trucks to ship them around the country.

What happens in the market of building materials due to this event?