1. Refer to the case study provided to you in class entitled "Typhoon Haiyan's deadly impact on the Philippines". Use the figure below to answer the questions that follow.

Figure showing the effects of Typhoon Haiyan on demand and supply of rice in Philippines

b. Refer to the case study provided to you in class entitled "Typhoon Haiyan's deadly impact on the Philippines". Use the figure below to answer the questions that follow. Figure showing the effects of Typhoon Haiyan on demand and supply of rice in Philippines Price (AUD) SS , 4.00 SSo 3.00 2.00 DDo 1.00 DD, 25,000 50,000 75,000 Quantity (Tons) To answer the questions below, assume that the price of rice was converted from the Philippines Pesso to the Australian Dollar. Also assume that position Eo on the graph represents the equilibrium price and quantities before the typhoon Haiyan devastation. Further assume that equilibrium position E2 represents the effects of typhoon Haiyan on the rice market two (2) months after the devastation. " Focus