A recent study found that the demand and supply schedules for cheese are as follows. Price per pound Quantity demanded Quantity supplied $100 200 units 630 units $85 300 units 520 units $70 420 units 420 units $55 550 units 330 units $40 690 units 250 units $25 800 units 180 units $10 1020 units 120 units a. Find the equilibrium price. 70 b. Find the equilibrium quantity. 420 Flag question: Question 2 Question 22 pts c. Refer to Table above. Buyers persuade the government to impose a price ceiling $15 below the equilibrium price. What is the new market price? $55 Is there a shortage or surplus? shortage Flag question: Question 3 Question 32 pts d. Refer to Table above. Buyers persuade the government to impose a price ceiling $15 above the equilibrium price. What is the new market price? $85 Is there a shortage or surplus? surplus Flag question: Question 4 Question 42 pts e. Refer to Table above. Sellers persuade the government to impose a price floor $30 above the equilibrium price. What is the new market price? $100 Is there a shortage or surplus? surplus Flag question: Question 5 Question 52 pts f. Refer to Table