Question: Please solve these two questions: Question 3: Complete the following table [P and Clare equilibrium price and quantity respectively} No Change in Supply An increase

Please solve these two questions:

Please solve these two questions: Question 3: Complete the following table [P

Question 3: Complete the following table [P and Clare equilibrium price and quantity respectively} No Change in Supply An increase in Supply A decrease in Supply No Change in Demand P same P up Qsame Qdown An increase in Demand A decrease in Demand P ambiguous Qdown Question 4: Pharmaceutical drugs have an inelastic demand, and computers have an elastic demand. Suppose that technological advance doubles the supply of both products {that is, the quantity supplied at each price is twice what it was}. Explain for each question: a. What happens to the equilibrium price and quantity in each market? b. Which product experiences a larger change in price? I:. Which product experiences a larger change in quantity? d. What happens to total consumer spending on each product

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