Assignment Task: Explain how each of the following affects the equilibrium price and quantity of trucking services. In each case, show whether the change(s) is/are due to a shift in the demand for or supply of trucking services.
a. Insurance premiums for truckers decrease because of competition in insurance market.
b. Home sale & purchase transactions increase.
c. Improved technologies in fuel mileage of the trucks without any increase in the price of trucks.
d. Government increases the tax on diesel fuel.