the demand for donuts, the supply has not changed. Question 3 Oscar Diggs, as the ruler of the Land of Oz, was responsible for forecasting the future prices and quantities sold in important markets based on observed trends in the economy. There was no more important market than the market for silver slippers, shoes much beloved by the citizens of the Emerald City. Oscar thought that two recent events were likely to influence the market for silver slippers. First, dressmakers were on strike which caused the price of silver dresses to increase. Most citizens in the Emerald City only wear silver slippers with their silver dresses. There was also an accident in one of the silver mines, causing the price of silver, obviously the main material in the production of silver slippers, to increase. Using a graph to illustrate your answer, explain how these two events impact the silver slipper market, including what will happen to the equilibrium price and quantity