Question: a. b. c. d. Use the graph below to answer the questions that follow: P 100 /- 7 1.CMina ZNJHI 2.5 Minal Q 0

a. b. c. d. Use the graph below to answer the questions that follow: P 100 /- 7 1.CMina ZNJHI 2.5 Minal Q 0 What is the equilibrium price and quantity ? When the price rises to $100, what happens to Qs and Qd ? Why? As a result of the increase in price, what situation is created? Explain. Is there a new equilibrium level when the price is $1007 Explain.

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