Assume that each of the markets below is initially in equilibrium. Then for each market below, suppose that the indicated scenario occurs. Illustrate the effect of each event in a diagram and indicate the effects on the equilibrium price and quantity. a. Market: Hotels. Scenario: Airbnb provides a discount to customers due to the pandemic. b. Market: Mutton. Scenario: Doctors warn that consumption of mutton may lead to high cholesterol coupled with a decrease in the price of goat feed. c. Market: Motorcycles. Scenario: Consumers learn that cars will be much more heavily taxed starting with next year's models.

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