Question: Question 4 (a) The table below shows the market demand and supply of vaccinations. Study the table and answer the following questions: Quantities are in

Question 4 (a) The table below shows the market demand and supply of vaccinations. Study the table and answer the following questions: Quantities are in ['0005! Price {t 400 350 300 250 200 150 100 Qtydemanded 400 450 500 550 600 650 700 Qtysupped 900 880 7'00 650 600 550 480 (i) With the information above, draw the demand and supply curve for the market of vaccinations. (6 marks} (ii) What is the equilibrium price? (2 marks} (iii) What is the equilibrium quantity? (2 marks} (iv) If the market price is at $350, is there a shortage or surplus in the market? How much will it be? (4 marks} (b) The diagram below shows the market for Pepsi. Assume that the price of Coke had increased. Assuming that Pepsi and Coke are substitute goods, illustrate the change in the market for Pepsi on the graph- Explain the changes briefly. (6 marks} Pd\" 5111191? Q1

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