In an analysis of the market for paint, an economist discovers the fact listed below. State whether each of these independent scenarios will affect supply or demand, and in what direction.
a. There are new cost-saving inventions in the technology for making paint.
b. The materials used in creating the paint are more durable and lasts longer, so that repainting is not required
as often.
c. As a result of extreme weather conditions, the exterior paint of houses are wearing off and requires
additional repaint.
d. An economic recession has caused several paint factories to shut down their operations.