Explain, with the use of demand and supply diagrams, the effect of the following events on the market for solar panels: (a) The price of solar panels has fallen to below the market equilibrium price.(b) The price of electricity for an average household has increased by 50 percent.(c) New technology has increased the productivity of solar panel producers.NOTE: IN EACH OF YOUR ANSWER EXPLAIN THE MARKET EQUILIBRIUM ADJUSTMENT PROCESS. 2 + 2 + 2 = 6 MarksQUESTION 2Ceteris paribus, at the same time when demand for yoga services have increased the government has introduced strict regulations on yoga providers, resulting in the decrease in the number of yoga providers. Using demand and supply analysis what will be the impact on price and quantity in the market for yoga services.
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