Explain and illustrate each of the following statements using supply-and demand diagrams. Show the impact on equilibrium price and quantity. i. “When a heatwave hits Barbados, the price of lettuce rises in supermarkets throughout the country.” ii. “During the winter period in Canada, the price of hotel rooms in Caribbean resorts increases.” iii. “When the war in Ukraine emerged, the price of gas rose, and the price of a used Toyota fell.” iv. An increase in the price of washing machines at Courts, resulted in a reduction in the sales of dryers. THIS IS A MICROECONOMICS QUESTION

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