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AP Microeconomics2.3 Equilibrium Graphing AssignmentAn entire city likes milk and coffee equally well. Milk is packaged in cardboard cartons. Coffee ispackaged in tin cans. Yesterday the price of cookies, a complement to milk, increased in price. You cancomplete the assignment in this document, using the drawing tools in Word (or any photo editingprogram) or print this document, and complete the activity by hand, submitting a scan or photo of yourwork. This assignment will be graded out of 12 points, as described below.For each question below:Draw and label a supply and demand graph (1 point)Show any curve shifts (1 point)Explain the determinant for the shift (1 point)Describe what happened to the new market price and equilibrium (1 point)1) What will happen to the market for milk?2) What will happen to the market for Tin?3) What will happen to the market for cookies?
