3. The supply of wheat is given by the following equation: Q; : 6 + 41;. 2P5 PF where Q; is the quantity of wheat supplied. in millions of bushels; PW is the price of wheat per bushel; PC is the price of corn per bushel; and PF is the price of tractor fuel per gallon. a. Graph the inverse supply curve when corn sells for $4 a bushel and fuel sells for $2 a gallon. What is the supply choke price'? b. How much wheat will be supplied at a price of $4? $8? c. What will happen to the supply of wheat ifthe price ofcorn increases to $6 per bushel? Explain intuitively: then graph the new inyerse supply carefully and indicate the new choke price. d. Suppose instead that the price of corn remains $4. but the price of fuel decreases to $1. What will happen to the supply of wheat as a result? Explain intuitively; then graph the new inverse supply. Be sure to indicate the new choke price. 7. Suppose the demand for streaming service in Frederick is QD = 224 - 4P, where Q is given in thousands subscribers and P is in dollars per month. Assuming that the price of this streaming service is $25 per month, calculate the following: a. Total number of subscribers at this price. (Don't forget the units.) b. Total revenue eamed by the streaming service. (Don't forget the units.) c. Consumer surplus. d. Total value received by the customers of this streaming service. (Don't forget the units.) e. Draw a carefully labeled diagram showing this demand. Be sure to mark out all of your answers to the previous parts. 10. Evaluate the following statement as True, False, or Uncertain and explain: \"The impact of a price ceiling on consumers" well-being depends only on the shape of the demand curve.\" (Hint: Use a diagram to support your answer.)