For this case study, read the applied problems 7-1 and 7-8 on page 160 of the textbook. Answer both questions using a chart and quantitative explanations, as well as written arguments. To complete this assignment, review cases 7.2.2 and 7.2.3, which start on page 153. Follow the explanations and the charts. Instead of using letter symbols in the chart, use actual numbers. For example: Instead of using world Price Pw use real numbers, such as $10.