Please answer all of the given questions:

Task: Attempt ALL questions (a) Supply and demand data for toasters is shown above. Plot the demand and supply curve and find the equilibrium price and quantity. (8) (b) What is the excess supply or demand when the price is (i) 12 and (b) 20 ? (4) (c) You are a sheep farmer. Give three examples of a change that would reduce your supply of wool. Construct a diagram also. (8) (d) Goods with snob value (status symbols) are demanded because they are expensive. Does the demand curve for such goods slope upwards? Construct a diagram. (4) (e) The following table shows price and income elasticities for vegetables and catering services. For each good explain, whether it is a luxury or necessity, and whether the demand is elastic or inelastic? (6)