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Question 46 9 pts (This is a file upload question. You can draw your graphs with a computer or hand draw them on a piece
Question 46 9 pts (This is a file upload question. You can draw your graphs with a computer or hand draw them on a piece of paper. If you draw them with a computer, you simply upload the electronic file here. If you hand draw your work, you can scan it with a scanner or cellphone to upload the file here. The file uploaded must be in the format of doc, docx, pdf, jpg or png. Don't submit HEIC file.) For each of the following separate parts, you are required to draw a graph. Make sure that you label both axes. (a) Consider the market for aircrafts. Precious metals are used for making aircrafts. Suppose the prices of precious metals increase. Draw a graph to show how the market equilibrium of aircrafts changes. (b) Country C grows flowers and oranges. Suppose the technology of growing flowers improves. The technology of growing oranges does not change. Draw how the PPF of country C changes. Assume that opportunity costs are increasing. (c) Consider the demand for good A. Suppose the substitutes for good A become less available. Draw a graph to show how the price elasticity of demand for good A changes
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