1. For each of the following statements, determine whether there has been a change in supply or a
change in quantity supplied. Draw a demand-and-supply diagram for each situation to show either a movement along the supply curve or a shift of the supply curve.
a. The price of Canadian-grown peaches skyrockets during an unusually cold summer that reduces the size of the peach harvest.
b. An increase in income leads to an increase in the price of family-restaurant meals, and to an increase in their sales.
c. Technological improvements in electronic publishing lead to price reductions for e-books and an increase in e-book sales.
d. A low-carb diet becomes popular and leads to a reduction in the price of bread and less bread being sold.
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