a)Consider the information extract 1 only, use ONE sentence to summarize the key information before introducing the factor affecting the market for rice with two dishes in Hong Kong. Use demand-and-supply analysis to explain the effect on the equilibrium price and equilibrium quantity of rice with two dishes in Hong Kong. No demand-and-supply diagram is required but you need to describe how the curve(s) shift(s) in your written explanation. b?Consider the information extract 2 only, use ONE sentence to summarize the key information before introducing the factor affecting the market for rice with two dishes in Hong Kong. Use demand-and-supply analysis to explain the effect on the equilibrium price and equilibrium quantity of rice with two dishes in Hong Kong. No demand-and-supply diagram is required but you need to describe how the curve(s) shift(s) in your written explanation.c?Considering all effects identified in your answer of part (a) and (b), what are the combinedeffect on the equilibrium price and equilibrium quantity of rice with two dishes in Hong Kong? Your analysis shows that the market price of rice with two dishes in Hong Kong decreases. How could this observation be possible? Explain with a demand-and-supply diagram.

Question 1 The "2-Dish Rice" or "This This Rice" is a meal box including rice and two small portions of Hong Kong- style side dishes (The Standard, November 1, 2022). You, a student intern of a consultancy firm, were assigned to prepare a demand-and-supply analysis for the takeaway shops selling rice with two dishes. After investigation, the following information extract were collected for the analysis. Information extract 1 The Indian government announced an abrupt ban on exporting non-basmati white rice. The move "has sent the Asian market into a panic," said Tanner Ehmke, lead economist for grains and oilseeds at CoBank. India is responsible for about 40% of the global rice trade, he noted. The banned items amount to about 15%. CNN, August 3, 2023) Rice is a staple food for most Hong Kong residents, with the city's rice supply mainly imported from various Southeast Asian countries. Hong Kong residents commonly consume fragrant rice, which is mainly supplied by Thailand and Vietnam. Simon Wong Ka-wo, president of the Hong Kong Federation of Restaurants and Related Trades, who is also a registered rice importer, points out that the ban on Indian rice exports would reduce global supply, and rice importers from Thailand and Vietnam are still in negotiations regarding prices. He predicts that the price of imported rice will increase by 30%. (Dimsumdaily Hong Kong, August 3, 2023) Information extract 2 Since the border reopened, more Hongkongers have been heading north than mainlanders coming south. It is estimated that Hongkongers visited Shenzhen 4.7 million times in July, spending up to HK$4 billion that month. That Hong Kong residents flock to Shenzhen and other Greater Bay Area cities in large numbers, mainly for weekend leisure, has thrown local businesses in these cities a lifeline, bailing many retail and service providers out of the struggling economy currently facing the mainland. An irony of the trend is that, as Hongkong spenders head north, fewer spend here and this has quickly become a problem for small businesses in the SAR. (The Standard, August 9, 2023)