PART II - SHORT ANSWER QUESTIONS (38 points) Use the space below to analyze the market for chicken: al (6 points) Label the graph below. Be sure to label each axis, the supply curve, demand curve and show the equilibrium price and quantity. Beef b) (6 points) Suppose that the price of beef falls. Assuming beef is a substitute in consumption for chicken, this will cause the curve to shift to the c) (6 points) Draw the change in the market from b) in the above graph. Clearly show any changes to supply or demand and label your new equilibrium price and quantity. d) (6 points) Now suppose that the price of chicken feed decreases. Since chicken feed is an input to the production of beef, this will cause the curve to shift to the e) (6 points) Draw the change in the market from d) in the above graph. Clearly show any changes to supply or demand and label your new equilibrium price and quantity. f) (8 points) The overall effect in the market for chicken from b) and d) caused the price of chicken to and the quantity of chicken to