(Solved): 4. Use a simple supply and demand diagram to analyze cach of the following scenarios. Explain brief ...

4. Use a simple supply and demand diagram to analyze cach of the following scenarios. Explain briefly. Be sure to show how both the equilibrium price and quantity change in each case. a) The economic downtum has led to more people staying home to watch movies, price and quantities sold in the mirket for micropave popcorn. price and quantities sold in the market for microwave popcorn. b) Suppose that drought conditions in agricultural regions increase the costs of irrigation. How would this affect prices and quantities sold in the market for fruits and vegetables? c) The New York Times recently reported on technological advances leading to an increase in the number of female cows. Female cows are valuable to farmers because they can be used to produce milk. However, while farmers now have more female cows available to produce milk, the farmers are not happy. Use a supply and demand diagram for the milk market to explain why. 5. From 1979 to 1989 in the United States, the number of working men grew \( 12 \% \) while the number of working women grew \( 29 \% \). During this time, average wages for men fell slightly while average wages for women rose about \( 7 \% \). Which of the following two explanations seems most consistent with the data? a) Women decided to work more, raising their relative supply (relative to men). b) Discrimination against women declined, raising the relative (to men) demand for female workers.