pls this is the assignment.ggg

I have teenage nephews and nieces that live in California. Two summers ago, we visited them and they talked about how they go out for Doner Kebabs on a regular basis and then sit around sipping the perky, delicious Matcha, a Japanese green tea alleged to be healthy.

It turns out that Kebabs and Matcha were both exploding in popularity across California.

a). Graph and take a guess at what the Matcha tea or kebab market might have looked like in say 2018 as compared to 2015 after the excitement and newfound interest across California. Make the assumption that these goods by 2018 were in a constant cost competitive industry moving towards the long-run, but not yet in the long-run.

(Choose either the Matcha or the Kebab market and show the Industry graph and an individual supplier graph).

For the next two years, California will increase its minimum wage by $1/hour until reaching $15/hour on Jan 1, 2022.

b). How might this change affect the market for Matcha or Kebabs? Assume that many of the workers in these industries are minimum wage workers and that there will be no change to the price of capital. Show on a revenue and cost graph and then a supply and demand graph.

Sidewalk Sam makes his living selling sunglasses at the boardwalk in Atlantic City. If the Sun shines Sam makes $30, and if it rains Sam only makes s10. For simplicity, we will Suppose that there are only two kinds of days, Sunny ones and rainy ones a) One of the casinos in Atlantic City has a new gimmick. It is accepting bets on whether it will be sunny or rainy the next day. Ihe casino sells dated "rain coupons" for $1 each. If it rains the next day, the casino will give you Sz2 for every rain coupon you bought on the previous day. If it doesnt rain, your rain coupon is worthless. In the graph, mark Sam's "endowment" of contingent consumption if he makes no bets with the casino, and label it E. On the same graph, mark the combination of consumption contingent on rain and consumption contingent on sun that he could achieve by buying 10 rain coupons from the casino. Label it A. On the same graph, use blue ink to draw the budget line representing all of the other patterns of consumption that Sam can achieve by buying rain coupons

(Assume that he can buy fractional coupons, but not negative amounts of them.) Suppose that the casino also sells sunshine coupons. These tickets als0 cost $1. With these tickets, the casino gives you $2 t it doesn't rain and nothing t On the graph above, use red ink to sketch in the budget line of contingent consumption bundles that Sam can achieve by buying sunshine tickets.

The in ab mats