PROBLEM #6 For parts a through c of this problem, state whether supply 0 change in each case). State whether the equilibrium quant indicated market as a result of each change described. Illustrate e demand-andsupply graphical analysis. Briey explain each answer. instructions for part d. r demand will change (only one will ity and price will rise or fall in the ach answer with a graph using Follow the separate a. Following recent hurricane activity in the Caribbean, consumers are more reluctant to take vacations to islands in the Caribbean. Determine the impact on the market for airline tickets to the Caribbean islands. b. Many restaurants continue to close in downtown Boston following the pandemic. Determine the impact of these closures on the restaurant market in Boston. 0. Suppose the price of beef rises signicantly, and that consumers View chicken as a good substitute for beef. Determine the impact on the market for chicken. d. For this part of the problem, consider two changes impacting the market for cars. Suppose the price of steel, a key input in the production of cars, falls due to the effect of international trade policies. At the same time, as people work from home and bike more, families choose to get by with one car instead of two. Which of these changes will impact the demand and which will impact the supply in the market for cars? Without any thher information, can we predict the direction of change in equilibrium quantity? Without any further information, can we predict the direction of change in equilibrium price? Demonstrate your answer graphically using supplyanddemand analysis and briey explain your