3. Demand and Supply a) Use the table to construct a supply curve using Excel Quantity Price 140 12 100 10 90 9 50 8 30 10 5 What is the R value for this plot and what does it mean in this case? [2] At what price will the supply be zero? Explain. [2] b) Why doesn't the list of things that effect demand (in the notes) include need? [1] c) For either one of the stories on Moodle about the Mcdonald's line up or toilet paper in Venezuela, explain why the lack of a free market is causing the problem. [3] d) Use any story from http: / wwwsbe ca news that could cause a shut in the supply for z good or service. Show this shift on a demand and supply Brawl d then explain show the step by step process of how the market reaches a new equilibrium. What do you predict will happen the price and output of this good or service. The point of this question is co copa apply the theory to a real event, so you WINST HSE actual news story and cite your source (5] Give an example of goods that are compisments, Exp it happens to the demand curves of each good when the p . Use graphs to support } answer. [3] Total 37 O a W hp