1. Suppose the following table shows the quantity of glitter that is demanded and supplied at various prices in European Country A.

a. Use the data in the table to draw the demand and supply curves in the market for glitter.

b. What is the equilibrium price and quantity in the market?

c. The following tables give the demand and supply schedules for two of its neighboring European countries, Country B and Country C. Suppose these three countries decide to form an economic union and integrate their markets. Use the data in the table to plot the market demand and supply curves in the newly formed economic union. What is the equilibrium price and quantity in the market?

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P () Quantity Demanded Quantity Supplied (thousand liters) (thousand liters) 1 160 40 234 140 60 120 80 100 100 5 80 120 6 60 140 7 40 160