Question: Graph each question separately. Make sure to start with the initial Supply ( S 1 ) and Demand ( D 1 ) curves and its

Graph each question separately.Make sure to start with the initial Supply (S1) and Demand (D1) curves and its corresponding equilibrium price (P1) and quantity (Q1) and then shift either the supply or demand curve (not both) to find the new price (P2) and quantity (Q2) to answer the question.1)Using the information below, Draw the Demand and supply Curves for Candy Bars to find the initial equilibrium price and quantity.DemandPQPt.$1.251A$1002B$0.753C$0.504D$0.255ESupplyPQPt.$1.258A$1.007B$0.755C$0.503D$0.251ENow use a new graph for each question below to show what happens to the equilibrium priceand quantity for each of the following events. Make sure to include the initial supply (S1) anddemand (D1) curves with their corresponding initial equilibrium price (P1) and Quantity (Q1)and then shift the Supply (S2) or Demand (D2) curve (not both) with the change in thePrice (P2) and the Quantity (Q2). DRAW A NEW GRAPH FOR EACH QUESTION. Thefollowing questions/graphs should be in general terms, S1, S2, D1, D2, P1, P2, Q1, Q2.Thusthe graphs do not need actual numbers, similar to the PowerPoint lectures. Email me if you anyhave questions. NOTE: This is what the midterm exam questions will be like and the graphsare worth (1)/(2) the points.2) candy stops heart disease3) the price of chocolate increases4) Tech. advances in how candy is made5) we tax candy.

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