Consider the following demand/supply schedules for Whey ProteinPowder, used to build muscle in weight training…

Price (P)…………….Quantity demanded………………QuantitySupplied…………….Surplus/Shortage

($/Pound) (Pounds/month) (Pounds/month)

40.00……………………………0…………………………………….… 600

35.00………………………….100………………………………………500

30.00…………………………. 200……………………………………..400

25.00…………………………..300………………………….………….300

20.00…………………………...400…………………………………….200

15.00…………………………….500…………………………………….100

10.00…………………………….600……………………………………….0

Question -Explain how each of the followingchanges would affect either the demand side or supply side of Wheyprotein powder. Draw a separate diagram for each caseand show the effect onequilibrium price and quantity…

1. There is an increase in income (all else equal)
2. The price of whey, used to produce the protein powder,increases (all else equal)
3. Gyms reopen after Covid-19 is under control (all elseequal)
4. There’s a decrease in the price of Soy protein powder, asubstitute in consumption for Whey protein powder (all elseequal)
5. There’s an increase in the price of whey protein powder (allelse equal)