6. Individual and market supply Suppose that Kevin and Maria are the only suppliers of shoes in a particular market. The following table shows their annual supply schedules: Price Kevin's Quantity Supplied Maria's Quantity Supplied (Dollars per pair) (Pairs) (Pairs) 10 0 16 20 16 28 30 24 36 40 28 40 50 32 44   On the following graph, plot Kevin's supply of shoes using the green points (triangle symbol). Next, plot Maria's supply of shoes using the purple points (diamond symbol). Finally, plot the market supply of shoes using the orange points (square symbol). Note: Line segments will automatically connect the points. Remember to plot from left to right.( the graph is attached as an image)

(a) Suppose that tacos and pizza are substitutes, and that soda and pizza are complements. What effect will the increase in the price of pizza have on the market for tacos and market for sodas? Briefly explain your graphical analysis for each graph. (two separate graphs for sodas and tacos markets)

6. Determinants of demand The following graph input tool shows the demand for sedans in New York City. For simplicity, assume that all sedans are identical and sell for the same price. Initially, the calculator shows market demand under the following circumstances: average household income is $50,000 per year, the price of a gallon of regular unleaded gas is $3 per gallon, and the price of a subway ride is $1.50. Use the graph input tool to help you answer the questions that follow. (Note: You will not be graded on any adjustment made to the graph used in the tool.) PRICE (Thousands of dollars per sedan) Demand 100 200 300 400 500 600 700 800 900 QUANTITY (Sedans per month) Graph Input Tool Price of a sedan (Thousands of dollars) Quantity of sedans (Sedans per month) Average Income (Thousands of dollars) Price of gasoline (Dollars per gallon) Price of a subway ride Suppose that the price of a sedan decreased from $25,000 to $20,000. This would cause a 25 450 50 $3.00 $1.50 Suppose that…

During the spring when demand for lobster is relatively low, Maine lobster fishermen are able to sell their lobster catches for about $4.50 per pound. During the summer when demand for lobster is much higher, Maine lobster fishermen are able to sell their lobster catches for only about $3.00 per pound. It may seem strange that the market price is higher when demand is low than when demand is high. Can you resolve this paradox with the help of a demand and supply graph? [You can attach your graph to your posting.] Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.