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:
Direct Quotation
A report of the exact words of an author or speaker, often enclosed in quotation marks.
Power to Heal
The ability or capacity to restore health, typically referring to medical, holistic, or spiritual healing practices.
Soothing Music
Music that is gentle, calming, and designed to provide comfort and reduce stress or anxiety.
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The act of looking for employment through various means, including online postings, networking, and direct application.
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