E: 0 ii 7- 9 a a ' a 6 Q 0 vamwme 4:45PM E Khalid Mahmud File Home Insert Draw Design Layout References Mailings Review View Help a Share 5' Comments Section D ' The table below shows the demand and supply for fuji apples in Peterborough. Price Quantity Demanded Quantity Supplied 1 Quantity Supplied 2 0 200 120 l 2 190 130 l 4 180 140 l 6 1'70 150 l 8 160 160 l 10 150 170 ' a. What is the equilibrium price and quantity traded? The equilibrium price is $l and the quantity traded is l . b, Suppose supply increases by 20. Complete the last column in the table above. c. What would be the price and quantity traded at the new equilibrium? The equilibrium price is $l and the quantity traded is l . d, Aer the increase in supply, at a price of $8 there would be a ofl units. v Page3of5 479words I]; English (Canada) Injrocus II\" E i + E n v O O . () ENG 4:46 PM AutoSave On Ly Assignment 1 (2).docx(rintu mam) - Last Modified: 9m ago 9 Search Khalid Mahmud O X File Home Insert Draw Design Layout References Mailings Review View Help Share Comments Section E In each of the following markets, explain what effect the following changes will have on the equilibrium price and quantity traded. Market Change Orange A freeze in Florida occurs at the same time that the juice price of apple juice rises. Cigarettes The government introduces an effective anti-smoking policy and increases the tax on cigarettes. The legal age for drinking is raised at the same time that Beer technological change lowers the cost of brewing beer. Eye The cost of producing lenses falls at the same glasses time that wearing eyeglasses becomes quite fashionable. Section F Suppose that the price of a kilo of bananas drops from $5 to $3, and as a result, the quantity sold increases from 80 to 120 kilos. Page 4 of 5 479 words X English (Canada) Focus + 100%