Show in a diagram the effect on the demand curve, the supply curve, the equilibrium price, and the equilibrium quantity of each of the following scenarios. a. The market for gasoline i. Scenario 1: Electric cars have increased in popularity.  ii. Scenario 2: The price of sports utility vehicles rises.  b. The market for the cardigans i. Scenario 1: New knitting machines are invented.  ii. Scenario 2: A caterpillar infestation destroys most of the cotton crop in Barbados  c. The market for shrimp i. Scenario 1: More people become health conscious and realize the high cholesterol content of seafood.  ii. Scenario 2: The price of fishing bait has decreased

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