please answer the questions in details.

1. Using demand curves and brief written descriptions, show and deseribe how each of the follewing events affects demand. Specifically, you need to discuss whether it is a movement on the demand curve or a shift in the demand curve and whether and how it might affect demand for related complements or substitutes. In other words, there may be more than one market affected for each event. Wse both graphs and text description. 1.abel all axes and demand carves very carefully. (9 points) a. A prescription drug is found to have many more side cffects than previously known. [3 points] b. Food items are labelled with their caloric content on restaurant menus, [ 3 points] c. Insured individuals receive 100% coverage of all preventative services such as cancer sereening. routine exams, and flu shots. [3 points] 2. You are employed as an economic consultant to the regional planning office of a large metropolitan area, and your task is to estimate the demand for hospital services in the area. Your estimates indicate that the own-price elasticity of demand is equal to 0.25, the income elasticity of demand equals +0.55, and the cross-price clasticity demand for hospital services with respect to the price of nursing home services equals 0.1. Use this information to project the impact of the following changes on the demand for hospital services. Please show all your calculations. Answering only with a number is not sufficient for receiving a full credit. 6 points) a. The hospital increases its price for services by 4.5%. [2 points] b. Average income decreases by 3%. [2 points] c. The price of nursing home care increases by 20% due to improved quality standards. [2 points] 1. Using demand curves and brief written descriptions, show and deseribe how each of the follewing events affects demand. Specifically, you need to discuss whether it is a movement on the demand curve or a shift in the demand curve and whether and how it might affect demand for related complements or substitutes. In other words, there may be more than one market affected for each event. Wse both graphs and text description. 1.abel all axes and demand carves very carefully. (9 points) a. A prescription drug is found to have many more side cffects than previously known. [3 points] b. Food items are labelled with their caloric content on restaurant menus, [ 3 points] c. Insured individuals receive 100% coverage of all preventative services such as cancer sereening. routine exams, and flu shots. [3 points] 2. You are employed as an economic consultant to the regional planning office of a large metropolitan area, and your task is to estimate the demand for hospital services in the area. Your estimates indicate that the own-price elasticity of demand is equal to 0.25, the income elasticity of demand equals +0.55, and the cross-price clasticity demand for hospital services with respect to the price of nursing home services equals 0.1. Use this information to project the impact of the following changes on the demand for hospital services. Please show all your calculations. Answering only with a number is not sufficient for receiving a full credit. 6 points) a. The hospital increases its price for services by 4.5%. [2 points] b. Average income decreases by 3%. [2 points] c. The price of nursing home care increases by 20% due to improved quality standards. [2 points]