estion 7 you Note: Write your response with a complete sentence (to get the full marks) in the space provided; no attachments or email will be considered for marking. The following supply and demand schedules describe a hypothetical Canadian market for potash ed out of question Price ($ per tonne) Quantity Supplied (million tonnes) Quantity Demanded (million tonnes) 11.5 12 17.5 350 370 390 410 12.5 13 16 14.5 13 11.5 10 430 450 13.5 14 a. What is the equilibrium price of Sotash? (0.5 points) How do you know? (0.5 points) b. How much potash would actually be purchased if the price were $370 per tonne? (0.5 points) Please provide the reasoning behind your answer. (0.5 points) c. How much potash would actually be sold if the price were $430 per tonne? (0.5 points) Please provide the reasoning behind your answer. (0.5 points) d. If the price is $430 per tonne, describe the forces that will cause the price to change. (1 point) e. If the price is $350 per tonne, describe the forces that will cause the price to change. (1 point)