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:
Auscultation
The act of listening to the sounds made by the internal organs, especially the heart and lungs, with a stethoscope.
Hypertension
A chronic medical condition in which the blood pressure in the arteries is persistently elevated, increasing the risk of heart, brain, kidney, and other diseases.
Hypotension
A condition characterized by blood pressure that is below the normal expected for an individual in a given environment.
Cardiac Veins
Veins that drain deoxygenated blood from the myocardium (heart muscle) into the right atrium.
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