3. Given the products below and the events that affect them, indicate what happens to demand, supply, equilibrium quantity, and equilibrium price in a competitive market. Identify the determinant of demand and supply that causes the shifts.

a. Calculators. More schools require students to buy and use calculators; improved productivity shortens the time it takes to make calculators.

b. Gasoline. Oil production declines due to a crisis in the Middle East; people take more car vacations and drive more.

c. New homes. The average incomes fall as the economy moves into recession; the productivity of home construction workers and builders increases.

d. Tobacco. The government cut its subsidy to tobacco farmers; more people quit smoking.

e. Digital cameras. There are improvements in the technology that increase the economic efficiency of production.

f. Automobiles. Consumer incomes rise as the economy moves out of recession.

e. Beef. Chicken prices fall because of a decline in the cost of feeding chickens.

h. Fast-food meals. The government imposes a significant tax on fast-food meals.