1. The following table indicates the daily quantities of dragon fruit supplied and demanded at different prices in Sao Paolo, Brazil. Price of Dragon Fruit ($ per tons) $6.00 $8.00 $10.00 $12.00 $14.00 Quantity Demanded (Tons per day) Quantity Supplied (Tons per day) 70 42 60 46 50 50 40 54 30 58 Answer the following questions based on the information in the table. (a) What is the equilibrium price and quantity of dragon fruits? How do you know? (1 pt.) (b) What kind of situation will arise if the price of dragon fruit is $14 per pound? How about if the price is $6 per pound? Support both answers with appropriate arguments and supply and demand graphs (make sure they are properly labeled, you need to have 2 separate graphs). Determine the market condition in each case. Hint: Remember the discussion in class during week 1 about shortages and surpluses. (2 pts.) (c) Not related to part b. How will the equilibrium price and equilibrium quantity of dragon fruit change (i.e., increase, decrease, or not change) if the number of dragon fruit producers increases? Use a supply and demand graph to illustrate the situation and explain your answer. Make sure to properly label your graph (use Q1 and P1 for the initial equilibrium