Plant-based meat alternatives are on the rise as consumers become more health and environmentally conscious. Using the demand and supply analysis, how does this trend impact the meat industry in the US? Using the steps below, you will provide a market analysis on the impact of plant-based meat alternatives on the meat industry. You DO NOT need to use real data for the graphs, please refer to the Chapter 3 videos on how to draw the graphs.

1. Draw a correctly labelled demand and supply graph for the plant-based meat alternative industry in the US. [3 points]
2. Consumers tastes are changing, more people are choosing healthier and environmentally friendly food options. Show on the graph how this impact the plant-based meat alternative industry in the US. Explain your prediction. [4 points]
3. Now draw a correctly labelled demand and supply graph for the US meat industry. [3 points]
4. Show the impact of consumers switching to plant-based meat alternative on the meat industry graph. How would this affect the market (equilibrium) price and quantity for meat? Explain your prediction. [4 points]
5. Let's assume that there is an outbreak of 'mad cow disease' in the US - a flu virus that affects cows, and is considered harmful to humans if we consume the meat that is infected. In response, the authorities have ordered cattle farmers to kill all livestock that has been tested positive.On the same graph, show how this would impact the market (equilibrium) price and quantity for the US meat industry. Explain your prediction [4 points]