1. (4 points) (chapter 5: effect of price change) Depict a linear market demand curve for food (think about what should be on the horizontal and vertical axis for this to be a demand curve). Let price be fixed at a given level (horizontal line). Graphically show the change in consumer surplus (shade it in) if there is a price rise for that good (a new horizontal line above the previous one). 2. (4 points) Once again, draw a linear market demand curve for food. Let price be fixed at a given level (a horizontal line). Graphically show how a new demand curve reflecting higher average income for consumers, and then show the change in consumer surplus (shade it in). 3. (4 points) (chapter 5: consumer surplus) The price of Steak Burritos in Chipotle is $5.50. I would be willing to pay $10 dollars for the first Steak Burrito, $8 for the second, $6 for the third, $4 for the fourth, and nothing for the fifth or any additional burritos. How many burritos would I buy? 4. (4 points) Continuing from problem 3, compute my total consumer surplus, and illustrate using a graph. 5. (4 points) Continuing from above, if the price of steak burritos fall to $3, how many burritos would I buy and what is the change in my total consumer surplus compared to the situation in 7? Illustrate using agraph.6. (4 points) (chapter 6) If the Cobb-Douglas production function is q = [ X , what is the average product of labor ( AP, ), holding capital fixed (that is, just leaving X alone in the equation)? 7. (4 points) (chapter 6) If the Cobb-Douglas production function is q = [ SK , what is the marginal product of labor ( MP, )