Please answer the following:

Blank 1: Graph 1 / Graph 2

Blank 2: sellers / buyers

Blank 3: Graph 1 / Graph 2

Blank 4: sellers / buyers

3. Problems and Applications Q3 Consider the market For rubber bands. The Following graphs give two diFFerent examples of possible demand and suppll,I curves in this market. Use the graphs to he.I',o you answer the foowing questions. You by!!! not he grao'eol on any changes you make to these graphs. Graph 1 5 | 1:] \"PP 3" I.- 9 a Tax Wedge ? h 5 Demand Price of Rubber Bands 0| (1 1t] 21:] 3:] III] 5:] El] TO 8:] 9:] 16:] Quantity of Rubber Bands \f7 depicts a market fer rubber bands that has yery inelastic supply and yery elastic demand. In this market, the burden of a tax on rubber bands will Fall more heayily on 'V . (Hint: Examine the effect of a tax of $2 per rubber band.) 7 depicts a market for rubber bands that has yery elastic supply and yery inelastic demand. In this market, the burden of a tax on rubber bands will Fall more heayily on T