Steps: 1 Select two news headlines, one from each column. You will create one graph to show a change in demand and one graph to show a change in supply. Note: The headlines you chose might reference or imply more than one good or service. However, you will interpret the impact on just one product market. Title each headline. As long as your graphs are reasonable for your chosen headlines, your work should be acceptable. 3. Add the shift in each graph. Draw a new curve on each of your graphs to reflect the shift in either supply or demand Label it D or S1, accordingly. Label the new equiturum price P1 and the new equilibrium quantity Q1. Add arrows to show the direction of the changes in the curve, price, and quantity. 4 Explain the outcomes. In a complete paragraph for each graph, explain how your graph illustrates the news event. Describe what changed and why. Include the one element of either TABLE or ROTTEN that best explains the shit. Describe how this led to the market outcomes for equilibrium price and quantity. You will have two paragraphs, one for each graph. 5 Submit your work. This includes your graph images and two typed paragraph explanations.

## Step 1: Select one headline from the "Demand (TRIBE)" column<br />### From the "Demand (TRIBE)" column, I select **B. "Influencers claim orange juice cured their insomnia; claim leaves doctors scratching their heads and store cases looking bare."** This headline suggests that influencers' claims about orange juice curing insomnia have increased consumer interest in orange juice, leading to a rise in demand.<br /><br />## Step 2: Select one headline from the "Supply (ROTTEN)" column<br />### From the "Supply (ROTTEN)" column, I select **D. "Semiconductor chip shortage woes: automobile manufacturers warn of delays in production and higher prices."** This headline indicates a reduction in the supply of semiconductor chips, which impacts the automobile market by decreasing supply.<br /><br />## Step 3: Draw the graphs<br />### For each selected headline, we will create a graph:<br />1. **Market for Orange Juice (Demand Shift)**:<br /> - The initial demand curve is labeled as $D$.<br /> - Due to the increase in demand, the new demand curve shifts to the right and is labeled as $D_1$.<br /> - The equilibrium price increases from $P_e$ to $P_1$, and the equilibrium quantity increases from $Q_e$ to $Q_1$.<br /><br />2. **Market for Automobiles (Supply Shift)**:<br /> - The initial supply curve is labeled as $S$.<br /> - Due to the decrease in supply, the new supply curve shifts to the left and is labeled as $S_1$.<br /> - The equilibrium price increases from $P_e$ to $P_1$, and the equilibrium quantity decreases from $Q_e$ to $Q_1$.<br /><br />(Note: Since I cannot draw images directly, you can sketch these graphs based on the descriptions provided above.)<br /><br />## Step 4: Explain the outcomes<br />### **Graph 1: Market for Orange Juice**<br />The headline describes how influencers' claims about orange juice curing insomnia have led to increased consumer interest. This represents a change in consumer tastes and preferences, which is part of the "T" in TRIBE (Tastes and Preferences). As a result, the demand curve for orange juice shifts to the right ($D \to D_1$). The new equilibrium shows an increase in both price ($P_e \to P_1$) and quantity ($Q_e \to Q_1$).<br /><br />### **Graph 2: Market for Automobiles**<br />The headline highlights a semiconductor chip shortage, which reduces the ability of automobile manufacturers to produce cars. This represents a change in resource availability, which is part of the "R" in ROTTEN (Resource Costs). Consequently, the supply curve for automobiles shifts to the left ($S \to S_1$). The new equilibrium shows an increase in price ($P_e \to P_1$) and a decrease in quantity ($Q_e \to Q_1$).