Which of the following is NOT part of the law of demand Question 5 options: As price rises, quantity demanded falls As price falls, quantity demanded changes All else is held equal When price increases under any condition, the quantity demanded falls.Illustrate the following situation using S&D graphs and answer the question below: (3pts) (Starting point) The market for oranges is in equilibrium. 1000 pounds are being sold at a price of $2/pound. (First change) The surgeon general announces that orange juice is not as healthy as previously thought. (be sure to show the direction of change!) (Second change) Orange pickers find new employment opportunities as high speed internet access becomes cheaper. (again, show the direction of change!) Compared to the starting point what has happened to equilibrium price and quantity of oranges after both of these changes? (i.e. did the equilibrium price increase, decrease or not enough information? What about the equilibrium quantity). (2pts)