The graph input tool Some questions allow you to interact indirectly with a graph by manipulating…

The graph input tool
Some questions allow you to interact indirectly with a graph by
manipulating a corresponding table of entries. In this type of
question, you will not be graded on the final appearance of the
graph, but rather you will use the graph to help you answer the
questions that follow.
You can adjust the values in the accompanying table for fields
with white backgrounds. Once you have selected a field, you can
either enter a new value or adjust the existing value by selecting
the arrows (+ to increase and – to decrease). You can exit the
entry field by hitting Enter (or Return) on your keyboard or by
selecting a place elsewhere on the problem. To reset a field to its
starting value, select the circular refresh arrow that appears next
to the selected field.
Experiment with entering different values in the editable
fields. Observe what changes take place on the graph itself and
also in the uneditable fields in the table. Don’t worry about
understanding the economics behind the question, just make sure you
understand how to manipulate the values on the graph.

PLEASE ANSWER ALL PARTS OF THE QUESTION INCLUDING THE
TRUE OR FALSE!
Graph Input Tool Market for Loafers 100 90 80 Price (Dollars per pair) Supp 20.00 Quantit Demanded (Thousands of pairs,) 160 Quantity Supplied 40 (Thousands of pairs) 60 Surplus (Thousands of pairs,) Shortage (Thousands of pairs,) 120 Demand Shifter Supply Shifter 30 and Price of Sneakers (Dollars per pair) Price of Leather (Dollars per pound) 20 45.00 10.00 0 20 40 60 80 100 120 140 160 180 200 QUANTITY (Thousands of pairs of loafers) Reset the graph to the initial state. Then, for each action described in the following table, indicate which elements on the graph (if any) are affected. Check all that apply. (Note: After changing the value in each field, be sure to again refresh back to the initial value before proceeding to the next row in the table.) Demand Curve Supply Curve Green Line Quantity Demanded Quantity Supplied Surplus Shortage Entering 25.00 into the Price of Sneakers field Entering 5.00 into the Price of Leather field Entering 10.00 into the Price field True or False: You can adjust the graph by selecting and dragging the lines. O True O False