Illustrate each of the following statements using supply-and- demand diagrams. Show the impact on equilibrium price and quantity. Laptops – There is increased access to wireless technology and lighter weight products are available. Microchips a component of laptops are cheaper as new technology has come online.  Lychee - Production in Canada totalled 1.5 million barrels in 2018, a 40 percent increase from 2017. Demand increased by even more than supply, over the same period.  Gasoline - The price of sedans rises and electric cars have become more popular  Wool coats: New knitting machines are invented and insect infestation destroys most of the cotton crop in Canada

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