For the 2nd study question you do not have to graph them; only explain what happens to supply, equilibrium price and quantity given the following situations.

1. Explain what happens to supply, price, and quantity when the following conditions occur:
2. A new technology is developed to pick peaches.
3. The government allows more furniture imports from China.
4. Interest rates are lowered to help spur the economy.
5. The cost of rubber which is used in the manufacturing of tires increases.
6. The government imposes a tax on imports of foreign cars.