b. Draw the market for a Math textbook. The instructors decide to make the textbook required (it used to be optional) and at the same time, the price of paper needed to make the textbook increases.

Find an article in The Wall Street Journal or The Economist that was published after 12/1/23 describing a change in price or quantity or both in some market. Analyze the situation using economic reasoning. A reference must be provided for the article Has there been an increase or decrease in demand? Factors that could shift the demand curve include changes in preferences, changes in income, changes in the price of substitutes or complements, or changes in the number of consumers in the market. Has there been an increase or decrease in supply? Factors that could shift the supply curve include changes in costs of materials, wages, or other inputs; changes in technology; or changes in the number of firms in the market. Draw a supply-and-demand graph to explain this change. Be sure to label your graph and clearly indicate which curve shifts. If done neatly, you can draw the graph by hand and paste it in your document

The price of salsa rises. How does the increase in the price of salsa affect the supply of salsa? A) The supply of salsa decreases. B) There is no change to the supply of salsa, but the quantity of salsa supplied increases. C) There is no change to either the supply of salsa or the quantity of salsa supplied. D) There is no change to the supply of salsa, but the quantity of salsa supplied decreases. E) The supply of salsa increases.

Explain all the reasons why decrease in the products price will lead to an increase in purchases