PART A

1. A graph that show the demand "As more Americans hold on to older vehicles longer, oil and tire change service shops see boom in profits".

2. Label the graph with axes, curves, equilibrium price, and equilibrium quantity.

3. Add a new curve to reflect shift in demand.

4. Add the new equilibrium price and new equilibrium quantity.

5. Add arrows to show the change in the curve, price, and quantity.

6. How do the graph illustrate the demand? What changed and why? How did the demand to the market outcomes for equilibrium price and quantity?

PART B

1. A graph that show the supply "Semiconductor chip shortage woes: automobile manufacturers warn of delays in production and higher prices".

2. Label the graph with axes, curves, equilibrium price, and equilibrium quantity.

3. Add a new curve to reflect shift in supply.

4. Add the new equilibrium price and new equilibrium quantity.

5. Add arrows to show the change in the curve, price, and quantity.

6. How do the graph illustrate the supply? What changed and why? How did the supply to the market outcomes for equilibrium price and quantity?