Explain clearly

There will be a few supply and demand questions for which we will use these graphs as potential answers. I provide them here so you can print this out and have it ready. Panel (a) Panel (b) An increase in demand A decrease in demand Graph 6 $9 $9 Price 51 D2 A UT O Price per pound D1 Price per pound D2 N W - NW 0 5 10 15 20 25 30 35 40 45 0 5 10 15 20 25 30 35 40 45 Q, ?Q Quantity Quantity Quantity (millions of pounds per month) Quantity (millions of pounds per month) Graph 7 Graph 8 Price Price Panel (c) Panel (d) An increase in supply A decrease in supply $9 151 P. 52 Price per pound D1 Price per pound D, P D 1 - NW N D, Q, 70, Quantity Quantity 0 5 10 15 20 25 30 35 40 45 0 5 10 15 20 25 30 35 40 45 Quantity (millions of pounds per month) Quantity (millions of pounds per month)Question 3 10 pts Let's use the supply and demand curve sheets you were provided before the exam to think about the short run supply and demand for wine - a normal good. Which graph best represents what happens in the wine market when a study is released that indicates wine is extremely healthy? 0 Panela 0 Panel d 0 Graph 6 O Graph 3 0 Panel b 0 Panel c 0 Graph 5 0 None of the graphs 0 Graph 7 Question 1 10 pts Let's use the supply and demand curve sheets you were provided before the exam to think about the short run supply and demand for California wine - a normal good. Which graph best represents what happens in the California wine market when wages for workers in California wine fields rise? O Graph 7 O Graph 5 O None of the graphs Panel d Panel a O Panel c O Graph 6 O Graph 8 Panel bQuestion 2 10 pts Let's use the supply and demand curve sheets you were provided before the exam to think about the short run supply and demand for California wine - a normal good. Which graph best represents what happens in the California wine market when the government puts on an effective price ceiling in order to keep wine affordable for everyone? C) Panel: C) Paneld C) Graph 5 C) Graph 7 0 Graph 6 C) Graph 8 O Panelb C) None of the graphs 0 Panel a