I need help with this experiment. I have no clue how to do the math or the graphs.

Experiment #2: Changes/Shifts in Supply and Demand Record the following information during the experiment: I. Earnings Record (Your Own Trades): Consumer Surplus (Buvers Use This Side) Producer Surplus (Sellers Use This Side) 6 Period 1 (will-to- pay) (price) (willing-to- accept) (producer surplus) al Period 2 (will-to- ) (price) (consumer surplus) (consumer surplus) 4 (consumer surplus) (willing to accept) ) (price) s (price) 5 (price) 8 (price) (producer surplus) ho Period 3 (will-to- pay) (price) (willing to accept) (producer surplus) Period 4 (price) (will-to- pay) (willing-to- accept) (producer surplus) (consumer surplus) ( (consumer surplus) Periods (will-to- (price) ) total consumer surplus (price) (willing to (producer accept) surplus) total producer surplus for all periods: s for all periods: $ 8 11 Trading Prices for Each Period (All Trades): Period 1 Period 2 Period 3 Period 4 Period 5 10 10 li 10 9 8 9 2 7 8 9 7 7 2 6 6 6 8 7 G 4 5 NNNNN Average P: 5:42 174337382.80 7192 Q-D Q-9 0-9 o 8 0-10 0-12 II. This information will be provided to you; during the experiment, you will know only your own selle cos, buyer value). Sellers Willingness-to- Accept After Is med Sellers Willingness to Accept Buyers Willingness to Pay Buyers' WIL-- Pay After Tax Route 12 12 4 4 } 5 1 OGS OU 7 2 danchogon Sqof No e EF g GNSS 8 S 4 6 5 10 1 Questions and Exercises: 1. As explained in the previous assignment, use the information in the above table to construct a supply/demand table for this market. Price Quantity Quantity Qo QS Demanded Supplied (after tax rebate) (after tax) 1 2 3 4 5 6 7 8 o 10 11 12 13 2. Draw demand and supply curves based on the sellers willingness-to-accept and buyers' willingness-to-pay prior to the tax on sellers or the tax rebate for buyers. (This will be basically the same curves you drew in Price 14 13 12 11 10 9 8 7 5 4 3 2 1 0 1 2 3 Quantity 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 3. Compare the equilibrium price and quantity predicted by the supply/demand model (the graph) to the actual experimental outcome: Price predicted by supply/demand model: Quantity predicted by supply/demand model: Average price observed in first period of the experiment: Number of transactions (quantity) in first period of the experiment: 4. In the second and third market periods, a tax $2 per unit sold was imposed on sellers, causing the willingness-to-accept to increase by $2 for each seller. Show any changes in supply or demand due to this new situation on the graph above. Use arrows to indicate the direction of any changes in supply and/or demand 5. What is the new equilibrium price and quantity indicated by the model (graph) after the tax is implemented? Has there been an increase or a decrease in either supply or demand? Circle the appropriate term from cach pair in the following sentence: The demand / supply curve shifted to the left/right, indicating a decrease / increase in demand supply. As a result, there was a decrease / increase in the equilibrium price, and a decrease / increase in the equilibrium quantity in the market. Price predicted by supply/demand model after tax is imposed on sellers: Quantity predicted by supply/demand model after tax is imposed on sellers: Average price observed in third period of the experiment: Number of transactions (quantity) in third period of the experiment: 6. In the fourth and fifth market periods, an income tax refund causes the willingness-to-pay of every consumer to increase by $2. The tax on sellers is still in effect. On the above graph, show any further changes in supply and/or demand resulting from this change in the market. As before, use arrows to indicate the direction of any changes. Make sure the graph is carefully labeled. 7. What are the new equilibrium price and quantity indicated on the graph? Has there been an increase or a decrease in either supply or demand? Circle the appropriate term from each pair in the following sentence: The demand / supply curve shifted to the left/right, indicating a decrease / increase in demand / supply. As a result, there was a decrease / increase in the equilibrium price, and a decrease / increase in the equilibrium quantity in the market. Price predicted by supply/demand model after buyers receive tax rebate: Quantity predicted by supply/demand model after buyers receive tax rebate: Average price observed in fifth period of the experiment: Number of transactions (quantity) in fifth period of the experiment: Experiment #2: Changes/Shifts in Supply and Demand Record the following information during the experiment: I. Earnings Record (Your Own Trades): Consumer Surplus (Buvers Use This Side) Producer Surplus (Sellers Use This Side) 6 Period 1 (will-to- pay) (price) (willing-to- accept) (producer surplus) al Period 2 (will-to- ) (price) (consumer surplus) (consumer surplus) 4 (consumer surplus) (willing to accept) ) (price) s (price) 5 (price) 8 (price) (producer surplus) ho Period 3 (will-to- pay) (price) (willing to accept) (producer surplus) Period 4 (price) (will-to- pay) (willing-to- accept) (producer surplus) (consumer surplus) ( (consumer surplus) Periods (will-to- (price) ) total consumer surplus (price) (willing to (producer accept) surplus) total producer surplus for all periods: s for all periods: $ 8 11 Trading Prices for Each Period (All Trades): Period 1 Period 2 Period 3 Period 4 Period 5 10 10 li 10 9 8 9 2 7 8 9 7 7 2 6 6 6 8 7 G 4 5 NNNNN Average P: 5:42 174337382.80 7192 Q-D Q-9 0-9 o 8 0-10 0-12 II. This information will be provided to you; during the experiment, you will know only your own selle cos, buyer value). Sellers Willingness-to- Accept After Is med Sellers Willingness to Accept Buyers Willingness to Pay Buyers' WIL-- Pay After Tax Route 12 12 4 4 } 5 1 OGS OU 7 2 danchogon Sqof No e EF g GNSS 8 S 4 6 5 10 1 Questions and Exercises: 1. As explained in the previous assignment, use the information in the above table to construct a supply/demand table for this market. Price Quantity Quantity Qo QS Demanded Supplied (after tax rebate) (after tax) 1 2 3 4 5 6 7 8 o 10 11 12 13 2. Draw demand and supply curves based on the sellers willingness-to-accept and buyers' willingness-to-pay prior to the tax on sellers or the tax rebate for buyers. (This will be basically the same curves you drew in Price 14 13 12 11 10 9 8 7 5 4 3 2 1 0 1 2 3 Quantity 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 3. Compare the equilibrium price and quantity predicted by the supply/demand model (the graph) to the actual experimental outcome: Price predicted by supply/demand model: Quantity predicted by supply/demand model: Average price observed in first period of the experiment: Number of transactions (quantity) in first period of the experiment: 4. In the second and third market periods, a tax $2 per unit sold was imposed on sellers, causing the willingness-to-accept to increase by $2 for each seller. Show any changes in supply or demand due to this new situation on the graph above. Use arrows to indicate the direction of any changes in supply and/or demand 5. What is the new equilibrium price and quantity indicated by the model (graph) after the tax is implemented? Has there been an increase or a decrease in either supply or demand? Circle the appropriate term from cach pair in the following sentence: The demand / supply curve shifted to the left/right, indicating a decrease / increase in demand supply. As a result, there was a decrease / increase in the equilibrium price, and a decrease / increase in the equilibrium quantity in the market. Price predicted by supply/demand model after tax is imposed on sellers: Quantity predicted by supply/demand model after tax is imposed on sellers: Average price observed in third period of the experiment: Number of transactions (quantity) in third period of the experiment: 6. In the fourth and fifth market periods, an income tax refund causes the willingness-to-pay of every consumer to increase by $2. The tax on sellers is still in effect. On the above graph, show any further changes in supply and/or demand resulting from this change in the market. As before, use arrows to indicate the direction of any changes. Make sure the graph is carefully labeled. 7. What are the new equilibrium price and quantity indicated on the graph? Has there been an increase or a decrease in either supply or demand? Circle the appropriate term from each pair in the following sentence: The demand / supply curve shifted to the left/right, indicating a decrease / increase in demand / supply. As a result, there was a decrease / increase in the equilibrium price, and a decrease / increase in the equilibrium quantity in the market. Price predicted by supply/demand model after buyers receive tax rebate: Quantity predicted by supply/demand model after buyers receive tax rebate: Average price observed in fifth period of the experiment: Number of transactions (quantity) in fifth period of the experiment