Imagine the market for home computers in the 1990s. a. Start in Equilibrium (be sure to label all relevant points) b. Change at least one of the ceteris paribus conditions.  As the internet begins to provide entertainment and commerce options in a graphical format that everyone can understand, improvements in processor technology also arrive. c. Examine the changed incentive.  Which curve(s) has(have) changed? Why? (i.e. – which of the ceteris paribus conditions have changed?) _______________________________________________________ d. Identify the change(s) in direction, and draw into the above market. e. Finish in equilibrium.  What are the effects on price and quantity?

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