a. Draw a graph of the market for jalapeno peppers. Be sure to label everything.
b. Draw a new graph that shows what changes would occur to your graph in part ‘a' if there was bad weather and the jalapeno pepper crop was severely damaged. Explain why you made these changes to the graph.
c. Redraw the graph you did in part ‘b' then add the changes that would occur to the jalapeno pepper market if suddenly Mexican food became popular, especially spicy Mexican food.
d. Explain what changes we will see to in the equilibrium price and quantity in the market for jalapeno peppers after the changes have occurred in part 'b' and part ‘c‘.