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Question 2: The below chart shows the percentage ratio of prices in Cincinnati, Ohio (e.g. a Midwestern city) and different cities (e.g. (Pc/Pny)*100). • Assume there is no trade between Cincinnati and New York, show the market for wheat in both cities. Be accurate about the relative prices in the cities. (5pts) • Now assume there are zero transportation costs and trade between Cincinnati and New York, show the impact of trade on the market for wheat in both of the cities. Be accurate about the relative prices in the cities. (5pts) • Generally speaking, does the chart match your predictions from the first two parts of the question given the fact that transportation costs are falling over this period? Explain. (5pts) Question 3: Use the following table to discuss the trends in skilled wages relative to unskilled wages from 1825 to 1860. Discuss one factor that contributed to the trend in detail.