The diagram below represents the producer side of the market for skateboards in New York.The current price of skateboards is PA.Each of the events described below will have some impact on the supply of skateboards.For each event,draw a picture to illustrate the effect of the event.Be sure to explain your pictures using pertinent economic terminology ("movement along" or "change in quantity"). 
(a)A drop in the price of skateboards.
(b)An increase in the price of wheels used in the manufacturing of skateboards.
Definitions:
Expected Return
A financial term used to calculate the average amount of profit or loss an investment is predicted to generate.
Economy Booms
A period of rapid economic growth and expansion characterized by high employment, increasing consumer confidence, and elevated business production.
Expected Rate
The anticipated return on an investment, often used to estimate the future value of investments or to guide investment decisions.
Beta
An indicator of how much a stock's price fluctuates compared to the general market, representing its relative risk.
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