1. Choose any product or service market. Create the demand and supply schedule of the selected market by lling out the table below: ' a. What is the market equilibrium price and quantity in your selected market? b. Pick a price so that there will be a market shortage, and find the shortage amount (1. Write one example factor that could increase the demand and decrease the supply. l i 1. Using the filled table above, ' a] calculate just one PED. bl Is the demand elastic or inelastic? ) what price change would you recommend to increase TR? 1:] Based on your answer to c ' BUSi tossmmotconowu