point (price) also shifts. Assignment To complete this assignment, you will need to review the video in the lesson and be familiar with how to properly graph supply and demand together without real numbers. You will not use actual values for price and quantity in this task. Instead, you will draw a graph to model a current event based on a news article you cite as part of your work. For help with citing sources of information, see this & MLA format presentation. Steps: 1. Find a market news event. Scan the news for an article from within the last week about a good or service that interests you. Read the article and determine which is affected: supply or demand. 2. Draw a graph. Draw a basic market graph. Title it the market for the product in your news article. Label the axes, curves, equilibrium price "Pe," and equilibrium quantity "Qe." 3. Add the shift. Draw a new curve on your graph to reflect the shift in either supply or demand. Label it D1 or S1, accordingly. Label the new equilibrium price P1 and the new equilibrium quantity Q1. Add arrows to show the direction of the changes in the curve, price, and quantity. 4. Explain the outcomes. In a complete paragraph, explain how your graph illustrates the news event. Describe what changed and why. Include the one element of either TRIBE or ROTTEN that best explains the shift. Describe how this led to the market outcomes for equilibrium price and quantity. 5. Submit your work. This includes your graph image file and a separate paragraph explanation with the citation for your news article. Tools to Create and Submit Graphs Select here for a finished example. M max