The table shows the demand and supply schedules for milk. Now two changes occur in the...

 

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The table shows the demand and supply schedules for milk. Now two changes occur in the market for milk. Quantity demanded Quantity supplied Price (dollars per carton) Excellent weather inereases the quantity supplied by 60 cartons a day at cach price. (cartons per day) 1.25 600 510 A news story on CNN that says: Milk is good for your health, which increases the quantity demanded by 240 cartons a day at cach price. 1.50 1.75 540 540 480 570 2.00 420 600 2.25 360 630 What is the new equilibrium in the milk market? The new equilibrium price is $a carton and the new equilibrium quantity isO cartons a day. The table shows the demand and supply schedules for milk. Now two changes occur in the market for milk. Quantity demanded Quantity supplied Price (dollars per carton) Excellent weather inereases the quantity supplied by 60 cartons a day at cach price. (cartons per day) 1.25 600 510 A news story on CNN that says: Milk is good for your health, which increases the quantity demanded by 240 cartons a day at cach price. 1.50 1.75 540 540 480 570 2.00 420 600 2.25 360 630 What is the new equilibrium in the milk market? The new equilibrium price is $a carton and the new equilibrium quantity isO cartons a day.

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