Question: Can you please help me solve this? Question 1 The table sets out the demand and supply schedule of potato chips Price Quantity demanded (c

Can you please help me solve this?

Can you please help me solve this? Question 1 The table sets

Question 1 The table sets out the demand and supply schedule of potato chips Price Quantity demanded (c per bag) Quantity supplied (millions of bags per weeks) | (millions of bags per weeks) 50 160 130 60 150 140 70 140 150 80 130 160 90 120 170 100 110 180 a) Draw a graph of the potato chips market and mark in the equilibrium price and quantity. b) If the price is 60e a bag, is there a shortage or a surplus, and how does the price adjust? c) If a new dip increases the quantity of potato chips that people want to buy by 30 million bags per week at each price, how does the demand and/or supply of chips change? d) If a new dip has the effect described in c), how does the price and quantity of chips change? e) If a virus destroys potato crops and the quantity of potato chips produced decreases by 40 million of bags a week at each price, how does the demand and/or supply of chips change? f) If the virus described in e) hits just as the new dip in c) comes onto the market, how do the price of chips and the quantity sold change

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