1.The Clothing Market. (Make sure to include a graph and the assumptions you are making to support your answer for each question.)

A.As income falls, what happens to the price and quantity of cloths?

B.As the cost of leather falls, what happens to the price and quantity of leather jackets?

C.As the price of Nike's increases, what happens to the price and quantity of Reebok?

D.If we impose a tax on cloths, what happens to the price and quantity of cloths?