QUESTION 1 Price Quantity Demanded Quantity Supplied 1 $40.0 140 42.5 130 45.0 120 47.5 110 28:892 50.0 100 52.5 90 55.0 80 57.0 70 130 60.0 60 140 Refer to the above information to answer this question. If both demand and supply increase by 40 units, what will be the new values of equilibrium price and quantity? O $60 and 100. O $40 and 140. O $60 and 140. O The price will be $50 but equilibrium is not possible O $50 and 140