I. Consider the market for hamburgers, a lunch favorite among aviation maintenance crews at NAS Lemoore. Using the S and D model and the 3-step analysis, show graphically and briey describe in words the change in the market price and quantity tmded at equilibrium in the hamburger market, given each of the following changes. a. A new hybrid grain reduces the cost of cate feed. Graph Brief capture: b. A drought devasules the wheat crop increasing the price of hamburger buns. Brief capture: c. Ammumnmemmmmmm Graph 2. Your boss asked you about an artide that said airline revenues were rising despite the recession and rising fuel costs Your boss knows you are taking economics and asks you to explain how this happened. You sketch a S and D diagram in which you assume that the initial average ticket price is $300 and the number of airline seats is 70,000. You recognize that the recession and rising fuel costs are supply/demand shifters and you sketch these in your diagram You assume that new ticket price B3600 and the new number of seats is 40,000. Explain why airline revenues are increasing with the increase in price