Answer the Question Below

Question The following tables show the individual demand and supply schedules of strawberry in a market. Table 1: Quantity Demanded by Individual Consumers Price (RM) Quantity Demanded (Kg) Buyer A Buyer B Buyer C Buyer D 1 35 35 29 16 2 31 30 26 13 3 27 25 23 12 4 23 20 20 10 5 19 15 17 8 6 15 10 14 6 Table 2: Quantity Supplied by Individual Suppliers Price (RM) Quantity Supplied (Kg) Seller L Seller M Seller N 1 25 15 0 2 26 20 10 3 2? 25 20 4 28 30 30 5 29 35 40 6 30 40 50 a) Based on the information provided, plot the market demand and supply curves for strawberry in the graph paper. b) State the equilibrium price and equilibrium quantity of strawberry. c) lfthe government sets the price of strawberry at RM 5 per kg, what is this legal price called? Would there be a surplus or a shortage in the market as a result of the government's action, and by how much? d) Assuming strawberry is a normal good, explain what would happen to the equilibrium price and quantity of strawberry in the market in each of the following situation. Explain and illustrate your answer using suitable diagrams. i) MARDI found a new breed of strawberry that can grow faster, ii) There is a nding by the Health Ministry that eating strawberry can improve skin elasticity due to its high vitamin C content