Armed with the knowledge you are gaining from this module week's summit session, it's now time for us to apply what we are learning! For this activity, complete four of the five scenario-based problems. Prepare a document to explain your answers and graph your solutions. Make sure to use references in APA format to support your positions.

Joshua's income increases, while federal taxes increase; therefore, please illustrate by constructing a supply and demand graph, the direction in which the curves will shift and state the new equilibrium price and quantity; for example, state whether price and quantity increased, decreased, or are indeterminate. Please explain your rationale based on the determinants of demand and supply.