a. What are the equilibrium meal price and equilibrium quantity of meals?

b. If the college put a price ceiling on meals at $7 a meal, what is the price students pay for a meal? How many meals do they buy?

Use the following table to work Problems. The table sets out the demand and supply schedules for college meals:

Price (dollars per meal) 45678 Quantity demanded Quantity supplied (meals per week) 3,000 2,750 2,500 2,250 2,000 1,500 2,000 2,500 3,000 3,500