7. The market for pizza has the following demand and supply schedules:

Graph the demand and supply curves. What is the equilibrium price and quantity in this market? If the actual price in this market were above the equilibrium price, what would drive the market towards the equilibrium? If the actual price in this market were below the equilibrium price, what would drive the market towards the equilibrium?

Transcribed Image Text:

Price Quantity demanded Quantity supplied 4 135 26 56988 104 53 81 81 7 68 98 53 110 39 121