1. Suppose the demand for housing in the Twin Cities follows the pattern below. (20 points) Price (in thousand Minneapolis St. Paul (in Twin-Cities USD) (in thousand) thousand) (in thousand) a. What is the table called? (2 points) b. At the price of $100,000, how many houses are being demanded in Minneapolis? In St. Paul? In the Twin-Cities? At the price of $250,000, how many houses are being demanded in Minneapolis? In St. Paul? In the Twin-Cities? (6 points) c. Name 2 potential reasons why at the same price, housing demand in St. Paul is higher than housing demand in Minneapolis. (2 points) d. Illustrate graphically the impact of the increase in housing price (from $100,000 to $250,000) on housing demand in Minneapolis and St. Paul. Remember to label each curve, the axes, and any changes in quantities. (6 points) e. Explain why an increase in price would lead to changes in housing demand that you describe in part d. (2 points) f. Assume that the market has many buyers and suppliers (i.e., perfectly competitive), what is the mdamental change in the housing market that would lead to an increase in housing price? (2 points)