Market for a good is in equilibrium. The supply of good decreases. Explain the chain of effects of this change.

Market for a good is in equilibrium. Supply of the good 'decreases'. Explain the chain of effects of this change on the market for the good. Use diagram.

Market for a good is in equilibrium. Demand for the good 'increases'. Explain the chain of effects of this change.

Market for a product is in equilibrium. Supply of the product 'decreases'. Explain the chain of effects of this change till the market again reaches equilibrium. Use diagram.