what will happen to the equilibrium price and quantity of a product

QUESTION 1 (20 Marks) Applying the information in the article provided above and your knowledge of the market supply and demand curves, describe how the market will react to the introduction of a statutory minimum wage. Indicate what the likely effect would be on the unemployment situation in South Africa if the minimum wage rate is set above the equilibrium wage rate. Question 2 (20 Marks) "Market equilibrium happens at the crossing of the demand and supply curves. This point is typical of both buyers and sellers agreeing upon both the quantity of goods that will be bartered on the market and the price which these goods will be exchanged for" (Mohr, 2015). With the aid of separate diagrams, distinguish between consumer surplus and producer surplus. (10 marks) Use a diagram to illustrate what will happen to the equilibrium price and quantity of a product if the demand for the product increases. Also mention THREE (3) factors that can cause an increase in demand. (10 Marks)