Economics Journal Prompt Carmaker Bob makes rare racing cars called Ostriches. He is willing to sell 1 Ostrich for $10,000.00; 5 Ostriches for $20,000.00 each, 10 Ostriches for $30,000.00 each, 15 ostriches for $40,000.00 each, and 25 ostriches for $50,000.00 each. Demand for Ostriches is very high because they go very fast and look really cool. They are so popular that consumers would be willing and able to purchase 60 Ostriches at $10,000.00 each, 50 Ostriches at $20,000.00, 40 Ostriches at $30,000.00 each, 30 Ostriches at $40,000.00, and 20 Ostriches at $50,000.00. Create the following: A. Demand Schedule (label it D1) B. Supply Schedule (label it S1) C. Demand Curve (label the line D1) [scale: every 2 boxes = 5 Ostriches] D. Supply Curve (label the line S1) [scale: every 5 boxes = $10,000] E. Indicate the equilibrium point on your demand curve, and write on your paper the price and quantity at equilibrium. NEWS FLASH! OPEC (The Organization of Petroleum Exporting Countries) has decided to reduce oil production by 1/2! Demand for racing Ostriches drops by 20 Ostriches at each price level. Create the following: F. The new demand schedule (label it D2) G. The new demand curve (label it D2) H. Indicate the new equilibrium point on your demand curve, and write on your paper the price and quantity at equilibrium