Question: Table below contains data for the demand for a box of blueberries in two different markets. Price $11.00 10.50 10.00 9.50 9.00 8.50 Quantity

Table below contains data for the demand for a box of blueberries in two different markets. Price $11.00 10.50 10.00 9.50 9.00 8.50 Quantity

Table below contains data for the demand for a box of blueberries in two different markets. Price $11.00 10.50 10.00 9.50 9.00 8.50 Quantity Supplied 800 760 720 680 Market 1 640 Quantity Demanded 480 520 560 600 640 680 Market 2 Quantity Supplied 800 760 728 688 640 600 Quantity Demanded 568 580 600 620 648 668 a) What is the equilibrium price and quantity in each market? Round your answers to 2 decimal places. Market 1 price: $ Quantity: Market 2 price: $ : Quantity: b) What is the total revenue earned by suppliers in each market? Market 1: $ Market 2: $ Now, assume that government has imposed a quota of 600 in both markets. c) in which market would the blueberry growers be happier? (Click to select) d) In which market is the price elasticity of demand more inelastic? (Click to select)

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