Answer question D, E ,F for me O O 4il 25% 7:08 AM***Assignme.c2a8e12Cover pen, shapes and stamps are availablePDF AnnotationPage 1 of 2f. Suppose that the bicycle maker's labour union bargains for an increase in its wages.Furthermore, suppose this event raises the cost of production, makes bicyclemanufacturing less profitable, and reduces the quantity supplied of bicycles by 20 unitsat each price of bicycles. Plot the new supply curve and the original supply and demandcurves. What is the new equilibrium price and quantity?QUESTION TWO.Suppose the Daily Graphic Newspaper estimates that if it raises the price of its newspaper fromGhc1.00 to Ghc1.50 then the number of subscribers will fall from 50,000 to 40,000.a. What is the price elasticity of demand for the Daily Newspaper when elasticity iscalculated using the midpoint method?b. What is the advantage of using the midpoint method?c. If the Daily Newspaper's only concern is to maximize total revenue, should it raise theprice of a newspaper from Ghc1.00 to Ghc1.50? Why or why not?d. Suppose there is an increase in consumers' incomes. In the market for automobiles(a normal good), does this event cause an increase in demand or an increase in quantitydemanded? Does this cause an increase in supply or an increase in quantity supplied?(Explain. NB: Explanation must not be more than half a page.)e. Suppose there is an advance in the technology employed to produce automobiles. Inthe market for automobiles, does this event cause an increase in supply or an increasein the quantity supplied? Does this cause an increase in demand or an increase in thequantity demanded? Explain NB: Explanation must not be more than half a page.f. The demand and supply functions for two related commodities A and B in two differentmarkets are defined below:Qda= 410-5PA-2PBQds= 295-PA-3P8QSA= -60+3PAQSB= -120+2PBi. Find the equilibrium conditions in the two marketsii. How are goods A and B related? Explain your answer.

d.Given there is an increase in consumers incomes. In the market of an automobiles (normal good).…

d. Suppose there is an increase in consumers' incomes. In the market for automobiles (a normal good), does this event cause an increase in demand or an increase in quantity demanded? Does this cause an increase in supply or an increase in quantity supplied? (Explain. NB: Explanation must not be more than half a page.) e. Suppose there is an advance in the technology employed to produce automobiles. In the market for automobiles, does this event cause an increase in supply or an increase in the quantity supplied? Does this cause an increase in demand or an increase in the quantity demanded? Explain NB: Explanation must not be more than half a page. f. The demand and supply functions for two related commodities A and B in two different markets are defined below: Qda= 410-5PA-2P Qde= 295-PA-3Ps QSA= -60+3PA Qse= -120+2Ps i. Find the equilibrium conditions in the two markets ii. How are goods A and B related? Explain your answer.