b) How will the equilibrium price be affected in a competitive market? Q will always increase no matter the magnitude of the shifts Q will always decrease no matter the magnitude of the shifts O there will always be no change no matterthe magnitude of the shifts O may increase or decrease depending upon the strength of the supply and demand shifts c) How will the equilibrium quantity be affected in a competitive market? Q will always increase no matter the magnitude of the shifts Q will always decrease no matter the magnitude of the shifts O there will always be no change no matter the magnitude of the shifts O may increase or decrease depending upon the strength of the supply and demand shifts Answer the following questions about the market for cars, assuming that each of the following happens : The wages of factory workers rise. The price of automobile insurance drops. a) Show the effect by clicking and dragging the appropriate line(s) in the graph below. Select which item you want to move from the drop down menu at the top of the graph to move that item. - Supply Supply Demand 900 D 750- 600- Price 450 300 S 150- 150 300 450 600 750 900 Reset Quantity