Consider the market for iPhone (in general) where there is a downward-sloping demand curve and an upward-sloping supply curve. For each scenario, explain what would happen to the demand and supply curve and find the effect on equilibrium price and quantity. (Answer each question by "increase," "decrease," or "ambiguous.") For each instance, after you explain what would happen to the curve then explain what you think would happen to the price for the consumer based on what would happen to the producers cost. The new iPhone 5S is released and it becomes a fashionable accessory. Aliens have stolen aluminum metal supplies required in producing the rear case. Widespread virus in Android and Windows phones wreaks havoc non-iPhone users; concurrently, Foxconn factory (suppliers of Apple) improves production method. Rumor has it that Apple will slash the price by half during Black Friday, while transportation from suppliers to Apple shop is cheaper and faster..