Question: table [ [ Price , table [ [ Quantity ] , [ Demanded ] ] , table [ [ Quantity ] ,

\table[[Price,\table[[Quantity],[Demanded]],\table[[Quantity],[Supplied]]],[30.00,13,000,16,000],[31.00,12,000,18,000],[32.00,11,00020,200,20,000],[28.00,15,000,12,000],[29.00,14,000,14,000]]
(a) Construct the demand and supply curves and identify the equilibrium price and quantity. 1
(13 marks)
(b) If the price in the market is currently $31.00, is the market in equilibrium? Explain.
(5 marks)
(c) If the price in the market is currently $28.00 and the supply and demand for T-shirts are stable, will the price remain $28.00? Why or why not?
(5 marks)
(d) What would be the new equilibrium price if units of T-shirts should rise to 20?23
\ table [ [ Price , \ table [ [ Quantity ] , [

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