Consider the following supply and demand diagram for Tootsie Rolls. 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 demand side of the market.
(a) The American Association of Chocolate Lovers designates the Tootsie Roll as its official candy.
(b) The Tootsie Roll Company computerizes their Tootsie Roll manufacturing plant, lowering unit costs of production.
Definitions:
Self-interest
The consideration of one's own advantages or benefits in decision making or behavior.
Productivity
The measure of efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs.
Scientific Management
A theory of management that analyzes and synthesizes workflows, aiming to improve economic efficiency, especially labor productivity, by scientific means.
Labor Efficiency
A measure of produced output by a labor unit or units in a defined time period, indicating productivity.
Q26: What is the term for the total
Q34: Which of the following would be most
Q42: Refer to the information above to answer
Q62: Which of the following circumstances will raise
Q82: What is a concentration ratio?<br>A) A ratio
Q94: From 1990 to 2005, what manufacturing industry
Q114: Refer to the graph above to answer
Q119: What is the term for the sale
Q122: Refer to the above graph to answer
Q132: In long-run equilibrium, a monopolistically competitive firm's