Consider the market for cable-based telephone service which is a normal good. Ex

    Consider the market for cable-based telephone service which
    is a normal good. Explain whether the following events would cause a movement
    along the demand curve or a shift of the demand curve. If it is a shift please
    indicate in what direction the curve will shift. Graphs are not necessary but
    you are may draw them if you wish to. You do have to give an explanation in
    each case.(a)Firms
    providing cellular phone service (a substitute for cable-based serviced) reduce
    their prices.(b)Firms
    providing cable-based phone services reduce their prices.(c)The
    price of the modems necessary to consume cable-based phone service (which
    consumers buy from a third party and not from the cable company) becomes more
    expensive.(d)Improvement
    in technology moves consumer tastes in favor of cellular phone service and away
    from cable phone services.2. Apple released two new models of the IPhone
    the 5C and the 5S on Friday September 20. Assume that all phones available are
    sold out by Monday September 23and then no phones are available for about 10
    days till new supplies are again available. Is the price that Apple is charging
    for the iPhones equal to above or below the equilibrium price? Please give an
    explanation.3. Assume that immigrant workers comprise a
    significant part of the labor force in raspberry farms in the United States. IF
    lawmakers in Washington D.C. change the laws and make it illegal to hire
    foreign workers what will happen to the demand and supply curves for
    raspberries and therefore to the equilibrium price and quantity? Please explain
    and draw a graph showing the changes.
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