University of Houston Demand and Aggregate Supply Questions Discussion 1. You, being a supplier of steak dinners, opened your steak house. Assume the marke

University of Houston Demand and Aggregate Supply Questions Discussion 1. You, being a supplier of steak dinners, opened your steak house. Assume the market-clearing price is $20 and the market clearing quantity is 500 for a steak dinner; (however, you do not have this information). You, the owner of the steak diner, decide to price your steak dinners at $15.00. You notice that when you do this you could have sold 650 steak dinners but are willing and able to sell only 400. Draw this situation on a graph. Put all numbers given on your graph. What will happen in this market? Will there be a shortage or a surplus? Show this on your graph. What will happen in this market (assume there are no price controls). 2) A news released proved the inefficiency of hybrid vehicles. However, 2 months ago the number of dealers offering various hybrid models nearly tripled. How will this affect the price of hybrid vehicles? Use economic terms and well labelled diagrams in your answers.2.Peter Drucker, considered the father of management, stated. “It is change that always provides the opportunity for the new and different.” How will industries and world economies and payment structure change in a post Covid-19 world? Read the Following Article. https://rejournals.com/covid-19-and-the-industrial… What will happen to low paying service jobs; the workers that are essential now, Grocery stockers, delivery, cleaners, etc. What will happen to commercial real estate, rents paid by restaurants, companies etc3. Read the following Article: https://www.dallasfed.org/research/economics/2020/… Use diagrams and narrative to explain changes in: Aggregate Demand and Aggregate Supply Money Demand Money Supply Exchange rate of the dollar.