Consider a market for avocados with the following demand and supply functions: Pa 150 30a market. (2 points) Suppose that prices are at S40. What is happening in the market? If there is a shortage or excess supply, calculate how much. Display this on your graph created in part 1. (2 points) 6. points) rchased new hydraulic machines to harvest from trees. Assuming that the new supply is given by B = 2Q, + 5, what is the new equilibrium price and quantity? (2 points) Consider two changes in the market related to avocados. First, consumers view avocados and tortilla chips as complements and the price of tortilla chips increases. Second, a new avocado variety is invented that increases the yield per tree. What happens to demand, supply, equilibrium price and equilibrium quantity? Describe each effect qualitatively. Use a graph to help explain your reasoning. (4 points) 9