1. (6 points) Use the table below to answer the questions P 1 2 3 4 5 6 7 8 9 10 11 12 13 QD 88 87 85 83 80 77 73 68 62 55 44 21 0 QS 0 3 8 14 21 29 39 50 62 75 89 103 118 a. (2 points) Find the free-market equilibrium price and equilibrium quantity. b. (2 points) A quota of 21 is instituted and enforced. Find the new market price and new market quantity. c. (2 points) The quota is eliminated and a price ceiling of 5 is instituted. Find the market price, the market quantity. 2. (4 points) Use the table below to answer the questions P 1 2 3 4 5 6 7 8 9 10 11 12 QD 130 120 110 100 90 80 70 60 50 40 30 20 as 10 30 50 70 90 110 130 150 170 190 210 230 A price floor of 4 is established. Find the resulting market price, market quantity and surplus/shortage