Answer the following questions

For each of the following draw well labeled graphs that illustrates the likely effect on the MARKET for EGGS. Indicate in each case the impact on equilibrium quantity (Q*) and equilibrium price (P*) for eggs. a) A surgeon warning that high cholesterol foods can cause heart attacks. b) A decrease in the price of bacon. c) An increase in the price of chicken feed d) Caesar salads become trendy at dinner parties and the salad dressing is made from raw eggs. e) A technological innovation that reduces egg breakage during packing. The demand and supply curves for No.2 pencils in Sahara can be described by the following equations : Demand Qd= 100-20P Supply Qs=10+40P a) Complete a demand schedule and a supply schedule based on the following prices $0.5, $1, $1.50, $2.0 and $2.50. b) Identify the equilibrium price and quantity for pencils c) Using the above data plot the information on a well labeled diagram, identify on the graph the equilibrium by writing an E d) Is the equilibrium price and quantity the same as found in (b)? e) Calculate the excess supply or demand when P=$2.00 and show this point on the graph f) Compute the shortage or surplus when P=$0.50 and show this point on the graph g) Suppose that last month the price of pencils fell but the quantity sold of pencils has increased. Use supply and demand analysis to explain how these changes could have occurred. h) Binlead a substitute lead pencil has increased its price; show on the diagram how this would affect the equilibrium price and quantity of No.2 pencils