In this question, you will be analyzing the market for potatoes during one month in the town of Squilax. This is a perfectly competitive market and satisfies our standard assumptions about markets (from Chapter 3). You have been told that the current equilibrium price for a pound of potatoes is $2.50 and that the current quantality of potatoes sold each month is 120 pounds. 3. Draw a graph of the market for potatoes, clearly indicating the current equilibrium values of your variables. Make sure you label everything fully and DO NOT use abbreviations. b. Look at you graph from part a and report a price that would result in a shortage of potatoes in the market. c. Assume that our market was initially in a position of equilibrium but that an agricultural pest begins to invade potatoes being grown, and those potatoes already harvested. The pest does not destroy all potatoes but it does damage some potatoes so they are unfit for consumption. Explain, in detail, what you are likely to observe in the market for potatoes. You may use a graph to help explain your answer, but you must still provide a detailed description {in words)