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I need some help with both of these questions! Thanks! Answers may be handwritten if they are clear and legible. For each of the following

I need some help with both of these questions! Thanks!

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Answers may be handwritten if they are clear and legible. For each of the following cases, indicate which curve shifts, and the reason for the shift (the determinant and a brief explanation). Show and indicate the effect on equilibrium price and quantity using the market demand and supply graph. 1. [10 points] Consider the market for cherries: (a) Workers in the cherry farms demand higher wages. (b) Researchers find new benefits of cherries. (c) Parts (a) and (b) occur simultaneously. 2. [s points] Consider the suit and dress shoes markets. Italian wool fabric, a widely popular material used in suits, is much cheaper today than in the past. Explain and show graphically the effect of this change in the both (a) the suit and (b) dress shoes markets. Indicate what happens to equilibrium prices and quantities traded in each market. price of relate

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