Project 1 Demand and Supply For what is the equilibrium price and equilibrium quantity? Provide the exact numbers from the chart above 5 if the price of hoodies change from $30-$35 in this a movement along or a shift of the demand and or supply curves, explain the changes in quantity demanded, and quantity supplied6 ? if income increases, what direction will the supply curve or demand curve shift? How do the equilibrium price is an equilibrium quantity change? Show this on a separate graph with the original curves from question one label the new equilibrium point E2 and explain in writing which curve shifts, and how equilibrium price is an equilibrium quantity change up or down.7 if labor cost increase, what direction will supply curve or demand curve shift? How did the equilibrium price in equilibrium quantity change? Show this on a separate graph with the original card from? Label the new equilibrium point E3 and explain in writing which curve shifts, and how equilibrium price in equilibrium quantity change up or down8 ? if a complimentary, good i.e. joggers becomes available at a lower price. What direction will the supply curve or the demand curve shift? How do you the equilibrium price in equilibrium quantity change show this on a separate graph of the original question question one label the new equilibrium point E4 and explain in writing which curve shifts and how equilibrium price in equilibrium quantity change up or down.9 answer all parts below, using the following scenario. Incomes decrease in labor cost decrease at the same time.A. What direction will the supply and demand curve shift?B. Show on a separate graph with the original courage question won the potential situation that can occur if the demand curve shifts to a greater degree, then the supply curve in relation to quantity label the new equilibrium point F5, and explain in writing what changes occur when the equilibrium price and the equilibrium quantity up down or stays the sameC.? Show on a separate graph with the original curves in question one the potential situation that can occur if the demand curve shifts to a lesser degree than the supply curve in relation to quantity label the new equilibrium point is six and explain in writing what changes occur when the equilibrium price in the equilibrium quantity up down, or stays the sameD. Show on a separate graph with the original curves in question one potential situation that could occur if the demand curve shifts in the same degree is a supply curve in relation to quantity label. The new equilibrium point is seven and explain in writing what changes occur when the equilibrium price in the equalibrium quantity up down or stays the same

1. Graph the following price and quantity information for hoodies. Label all parts of the graph including price, quantity, supply. demand and the equilibrium point as E1. - I Price(s) Quantity supplied (000) 10 75 _] 15 i 200 100 1' 20 l 180 140 | 25 170 150 | so 160 150 I 35 150 170 I 40 145 150 l 45 130 l 190 l '56 | 110 5 l 55 I 80 | 225 2. Is the demand curve a direct or inverse relationship? Explain how price relates to quantity demanded. 3. Is the supply curve a direct or inverse relationship? Explain how price relates to quantity supplied. cccs.edu doesn't allow editing on a Mac. To learn more, contact your admin about your Microsoft 365 plan. 4. What is the equilibrium price and equilibrium quantity? Provide the exact numbers from the chart above. 5. If the price of hoodies changes from $30 to $35 is this a movement along, or a shift of the demand and/or supply curves. Explain the changes in quantity demanded and quantity supplied. 6. If incomes increase, what direction will the supply curve or demand curve shift? How do the equilibrium price and equilibrium quantity change? Show this on a separate graph with the original curves from question 1, label the new equilibrium point E2, and explain in writing which curve shifts and how equilibrium price and equilibrium quantity change (up or down). 7. If labor costs increase, what direction will the supply curve or demand curve shift? How do the equilibrium price and equilibrium quantity change? Show this on a separate graph with the original curves from question 1, label the new equilibrium point E3, and explain in writing which curve shifts and how equilibrium price and equilibrium quantity change (up or down). If a mamalin inanAre