Can someone help me solve this!

CH 11 Tutorial) 1.Derive a demand and supply curve in this market. In the far right two panels use the following data if you want practice deriving a demand curve Good X: P1 = $25, P2=$40 P3=$55 Income =$40,000 Good Y = $ other consumption Feel free to skip deriving the demand curve if you are comfortable with it. (Answer on next page. This does not connect to 2A-D)| b d gother 40KT PF you 400 55 - MC 55 407 AL 25' 680 L.GO 480 210 Vod800 T gother PF 40% 40 AL 25 D 600 760 8022. Find the market EQ (use general cost curves...Le. similar to book X graphs) Walk through each of the 4 scenarios in terms of both the SHORT and LONG run for the MARKET and a single PRODUCER. . If there is no difference in the SR, then draw a graph that does not change. If firms enter or exit, be sure to include both some INTERMEDIATE shifts in supply, along with the end resultant LR Curve. A. Increase in annual fixed expense for a CONSTANT cost Industry. SR Market SR Firm What happens to the number of firms in the SHORT RUN? Describe why this happens? What happens to the number of firms in the LONG RUN? Why does this happen? LR Market LR FirmB. Decrease in Capital cost for a CONSTANT cost industry. Assume that each firm produce the same amount of output both before and after the change. What happens to the number of firms in the SHORT SR Market SR Firm RUN? Describe why this happens? What happens to the number of firms in the LONG RUN? Why does this happen? LR Market LR FirmC. Increase in Wages for a CONSTANT cost industry Assume that the marginal firm produces a GREATER amount of output in the LONG-RUN after the change. SR Market SR Firm What happens to the number of firms in the SHORT RUN? Describe why this happens? What happens to the number of firms in the LONG RUN? Why does this happen? LR Market LR FirmD. Decrease in Market Demand for an INCREASING cost industry Assume that each firm produce the same amount of output both before and after the change. SR Market SR Firm What happens to the number of firms in the SHORT RUN? Describe why this happens? What happens to the number of firms in the LONG RUN? Why does this happen? LR Market LR Firm3. Complete this Table for the opposite of each EXAMPLE Affected Costs Market Industry Firm LR # of Example SR LR Price Output Output Firms 1 License Fee None AC _SRA LR _SR| LR _SR+ LR fr None AC, MC _SR+ LR SR| LR SR 2LR 1 w AC, MC AC, MC 1 SR+ LR I SRI LR I SR ?LR 1 Demand None None 1 SR_ LR 1 SR O LR + SR_LR Annual License Fee Rental Rate of Capital Wage Rate Demand