Given below is a table that represents data of demand and supply for a market economy in a specific country Price /unit 10 9 8 7 4 Demand 3 5 7 9 10 Supply 12 10 7 5 4 Required A-Graph the data given below ( draw the supply and demand curves ) ................................................................................................................... .......................................................................................................... .......................................................................................................... .......................................................................................................... ........................... B-Determine the market equilibrium with quantity and price? ................................................................................................................... ............................................................................................................... ............................................................................................................... ............................................................................................................... ............ 3 ................................................................................................................... ............................................................................................................... ............................................................................................................... ............................................................................................................... ............ C-Calculate the market revenue for the market equilibrium point ? ................................................................................................................... ................................................................................................................... ................................................................................................................... ................................................................................................................... Question 2 2-Given the following table for an item demand and supply at particular market Demand 4 6 8 10 11 Supply 13 11 8 6 5 A-Calculate the surplus or the shortage (deficit) in market from the given item ................................................................................................................... ................................................................................................................... 4 ................................................................................................................... ................................................................................................................... ................................................................................................................... ................................................................................................................... ................................................................................................................... ................................................................................................................... B- Find price tendency (prices will go up or down? for each pair of demand and supply ) ................................................................................................................... ................................................................................................................... ................................................................................................................... ................................................................................................................... ................................................................................................................... ................................................................................................................... ................................................................................................................... .................................................................................................................. Question 3 -describe the following graph : demand or supply ? 5 q A-complete the vertical data ................................................................................................... ................................................................................................... ................................................................................................... ................................................................................................... b- State the name of the curve and type of movement .... ................................................................................................... ................................................................................................... ................................................................................................... ................................................................................................... c- State the reason for the movement of the curve to the right (up )..EXAMPLES OF YOUR OWN ? ...... ................................................................................................... ................................................................................................... ................................................................................................... ................................................................................................... Question 4 4-State the differences between the following elasticity in the graph below 6 a-Perfectly elastic means ................................................................................................... ................................................................................................... ................................................................................................... ................................................................................................... b-Perfectly inelastic means