The market for wool in the economy of Odessa is shown in the table below (note that quantities are given in tonnes per year). Price ($) 100 200 300 400 500 600 700 Quantity demanded 60 140 120 100 30 50 10 Quantity demanded 2 Quantity supplied 10 20 30 40 50 60 70 Quantity supplied 2 a. Plot the demand and supply curves, D1 and S1 in the graphing area below. Also mark the equilibrium, E1, in the graph. Choose the appropriate tool and plot only the two endpoints for every line or curve drawn in the graph below. Remember to also plot the equilibrium using the tool E1. Market for Wool in Odessa D 1 800 700 600 500 Price 400 300 200 100 0 0 20 40 60 80 100 120 140 160 180 200 Quantity of wool (tonnes per year) reset b. The equilibrium price is $ |and the equilibrium quantity is tonnes per year. c. If the price of wool was $400, there would be a (Click to select) | of tonnes per year.b. The equilibrium price is $ and the equilibrium quantity is tonnes per year. c. If the price of wool was $400, there would be a (Click to select) v of tonnes per year. d. Suppose that the demand were to increase by 30. Show the new quantity demanded 2 in the table above. 9. Draw the new demand curve, D2, in the graph and mark the new equilibrium as E2. Plot the two endpoints ofthe new demand curve and the equilibrium, E2. f. The new equilibrium price is $ and the new equilibrium quantity is tonnes per year. 9. Following the change in demand in part (d), suppose that supply were to increase by 50%. Show the new quantity supplied 2 in the table above. h. Draw the new supply curve, 52, in the graph and mark the new equilibrium of 52 and 02, as E3. i. The new equilibrium price is $ and the new equilibrium quantity is tonnes per year