Using diagrams show what changes in price and quantity would be expected in the following markets under the scenarios given:
A) Crude oil: As petroleum reserves decrease, it becomes more difficult to find and recover crude oil.
B) Air travel: Worries about air safety cause travelers to shy away from air travel.
C) Rail travel: Worries about air safety cause travelers to shy away from air travel.
D) Hotel rooms in Hawaii: Worries about air safety cause travelers to shy away from air travel.
E) Milk: A genetically engineered hormone enables large milk producers to cut production costs.