How to Do Homework Assignments 11. The graph input tool The graph input tool Some questions allow you to interact indirectly with a graph by manipulating a corresponding table of entries. In this type of question, you will not be graded on the final appearance of the graph, but rather you will use the graph to help you answer the questions that follow. You can adjust the values in the accompanying table for fields with white backgrounds. Once you have selected a field, you can either enter a new value or adjust the existing value by selecting the arrows (+ to increase and - to decrease). You can exit the entry field by hitting Enter (or Return) on your keyboard or by selecting a place elsewhere on the problem. To reset a field to its starting value, select the circular refresh arrow that appears next to the selected field. Experiment with entering different values in the editable fields. Observe what changes take place on the graph itself and also in the uneditable fields in the table. Don't worry about understanding the economics behind the question, just make sure you understand how to manipulate the values on the graph. Graph Input Tool 80 Market for Loafers Supply Price 16.00 64 (Dollars per pair) 56 Quantity 64 Quantity Supplied Demanded (Thousands of pairs) 16 (Thousands of pairs) lars per pair) 48 Surplus 0 Shortage 48 (Thousands of pairs) Thousands of pairs)How to Do Homework Assignments 24 PRI Demand Price of Sneakers 40.00 Price of Leather 8.00 "Dollars per pair) (Dollars per pound) Co 0 0 8 16 24 32 40 48 56 64 72 80 QUANTITY (Thousands of pairs of loafers) Reset the graph to the initial state. Then, for each action described in the following table, indicate which elements on the graph (if any) are affected. Check all that apply. (Note: After changing the value in each field, be sure to again refresh back to the initial value before proceeding to the next row in the table.) Demand Supply Green Quantity Quantity Curve Curve Line Demanded Supplied Surplus Shortage Entering 24.00 into the Price of O O O 0 O O O Sneakers field Entering 4.00 into the Price of O O O O O O Leather field Entering 8.00 into the Price field 0 0 0 0 0 0 0 True or False: You can adjust the graph by selecting and dragging the lines. O True O False