Find the flaws in reasoning in the following statements, payingparticular attention to

Chapter 2, Problem 5

(choose chapter or problem)

Find the flaws in reasoning in the following statements, payingparticular attention to the distinction between changesin and movements along the supply and demand curves.Draw a diagram to illustrate what actually happens in eachsituation.a. A technological innovation that lowers the cost of producinga good might seem at first to result in a reduction in theprice of the good to consumers. But a fall in price will increasedemand for the good, and higher demand will sendthe price up again. It is not certain, therefore, that an innovationwill really reduce price in the end.b. A study shows that eating a clove of garlic a day can help preventheart disease, causing many consumers to demand moregarlic. This increase in demand results in a rise in the price ofgarlic. Consumers, seeing that the price of garlic has gone up,reduce their demand for garlic. This causes the demand forgarlic to decrease and the price of garlic to fall. Therefore, theultimate effect of the study on the price of garlic is uncertain.