Question 1 Report
Use the schedule to answer the follow-ing questions:
| Price per annum | Quantity Demanded | Quantity Supplied per week |
| 5 | 500 | 60 |
| 6 | 400 | 150 |
| 7 | 300 | 300 |
| 8 | 250 | 400 |
| 9 | 150 | 500 |
| 10 | 50 | 600 |
(a) At what price and quantity does the market attain equilibrium and why?
(b) At what prices does the market exhibit excess demand and by how many units?
(c) At what prices does the market exhibit excess supply and by how many units?
(d) At what price will the supplier be willing to sell most? What quantity will he be willing to sell at that