As oil prices rose during 2006, the demand for alternative fuels increased. Ethanol, one alternative fuel, is made from corn. According to an article in the Wall Street Journal, the price of tortillas, which are made from corn, also rose during 2006: "The price spike (in tortillas) is part of a ripple effect from the ethanol boom".

a.Draw a demand and supply graph for the corn market and use it to show the effect on this market of an increase in the demand for ethanol. Be sure to indicate the equilibrium price and quantity before and after the increase in the demand for ethanol.

b.Draw a demand and supply graph for the tortilla market and use it to show the effect of this market of an increase in the price of corn. Once again be sure to indicate the equilibrium price and quantity before and after the increase in the demand for ethanol.