Use the graph below to draw a new supply curve, $2, which illustrates an increase in supply. Instructions: Use the graphing tool ."$2'. to plot a new line reflecting an increase in supply. Tools Price ($) Quantity Based upon the new supply line the equilibrium price will (Click to select) | and the equilibrium quantity will (Click to select) vUse the graph below to show an increase in demand and an increase in supply. Instructions: Use the graphing tools ,'D2', and ;'S2', to plot a new demand line and a new supply line, reflecting increases in both. 15 Tools D2 - NW AUTO NODO-NOE Price ($) X 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Quantity a) Label each of the curves ($1, S2, D1, and D2). b) The original equilibrium is at price of $ and quantity of units. c) After the shifts in demand and supply, the new equilibrium price will (Click to select) ~| and the quantity will (Click to select) vGiven the information in the table below, draw the demand and supply curves. Price Quantity Demanded| Quantity Supplied $15 27 14 4 25 13 9 21 12 16 12 11 22 6 10 26 2 Instructions: On the graph below, click on the graphing tool 'D1' and plot the first price and quantity demanded coordinate by clicking the appropriate spot. Continue clicking until you have identified all of the necessary points for this line (6 points total). Then repeat these steps for the supply line by using graphing tool 'S1' (6 points total). Tools m D 1 S 1 -NWA CONVO DO - NWA Uni Price ($) O 2 4 6 8 10 12 14 16 18 20 22 24 26 28 QuantityUse the graph below to illustrate a simultaneous increase in supply and decrease in demand. Instructions: Use the graphing tools, 'D2' and 'S2', to plot the circumstances described. 24 Tools $2 D2 Price ($) IT T T T T T T T T X 2 4 6 8 10 12 14 16 18 20 22 24 Quantity New equilibrium price (Click to select) v New equilibrium quantity will (Click to select)The entire orange crop in Florida is affected by a major freeze. On the graph below, show how demand and supply are affected and show the new equilibrium price and quantity for a bushel of oranges. Instructions: Use the graphing tool ,'S2', to plot a new line reflecting the impact of the freeze. 24 Tools 20 16 Price ($) 12 X 4 0 4 8 12 16 20 24 Quantity Based upon the new supply line the equilibrium price will |(Click to select) | and the equilibrium quantity will |(Click to select) v