he price of hamburger meat in College Town has recently fallen. Explain in detail the effects of this price change on the demand, supply, equilibrium price, and equilibrium quantity exchanged for fast food hamburgers in College Town and why. Draw a relevant diagram labeling everything. 2. Assume that Portugal and England are each able to produce wine and wheat under the following conditions: Portugal England 1 barrel wine 20 labor hrs 40 labor hrs 1 ton wheat 30 labor hrs 30 labor hrs SHOW ALL WORK! a. What is the opportunity cost of wine in England? b. What is the opportunity cost of wheat in Portugal? c. Which country has a comparative advantage in wine? Explain