Consider the following supply and demand picture of the market for Oreos.Note that the market is currently in equilibrium,with a price of P* and a quantity exchanged of Q*. 
For each of the scenarios below,draw a picture that illustrates the impact on price and quantity exchanged.Explain each of your pictures by describing what is happening to the supply side of the market.
(a)The price of Hydrox cookies goes down.
(b)Due to a disastrous growing season,the price of cocoa triples.
Definitions:
Spending Variance
The difference between the actual spending and the budgeted or planned spending amount in a given period.
Medical Supplies
Products and equipment used in healthcare practices for treatment, diagnosis, or preventive care purposes.
Activity Variance
A disparity that arises when the actual level of business activity differs from what was planned or expected.
Personnel Expenses
The costs associated with employing staff, including wages, salaries, benefits, and taxes.
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