Please answer all questions

You need to understand the market for N95 masks because they are an important input for your hospital system. Therefore, your hospital administrators ask you to report about your analysis of the N95 mask market this year. Explain fully how and why each of these three changes in isolation would influence supply andfor demand and the market price and the market quantity for N95 masks this year: In 1}, 2}, and 3] assume that either demand changes or supply shifts but do not shift both. 1. A disease outbreak in another country has caused buyers of N95 masks to expect a higher future price than they had preyiously expected. Describe how this change would change demand and why it wouid have this effect. Describe the change in the market price and market quantity that the change causes. (32 points} 2. The outbreak of the virus in the United States has caused "panic buying" as residents seek to stockpile items that are thought to be protective against the spread of the pathogen. Describe how this change would change demand and why it wouio' have this effect. Describe the change in the market price and market quantity that the change causes. {32 points} 3. Meanwhile, the cost of the special materials required for the masks has risen. Describe how this change would change demand and why it wouid have this effect. Describe the change in the market price and market quantity that the change causes. [32 points} 4. The changes in parts 1}, 2}, and 3) happen all at the same time. Describe all possible changes that will occur in the market price and quantity and what magnitudes of shifts in supply and demand would lead to those changes. [24