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1. The following tables show the demand and supply schedules for broccoli. Use this knowledge to answer the following questions. Price (per pound) Quantity Demanded
1. The following tables show the demand and supply schedules for broccoli. Use this knowledge to answer the following questions. Price (per pound) Quantity Demanded Quantity Supplied (1000 pounds) (1000 pounds 1.00 100 0 1 50 90 40 2.00 80 80 2.50 70 120 3.00 60 160 3.50 50 200 4.00 40 240 a. What are the cauliflower market's equilibrium prices and quantities? Create a graph of your response. Show the point of equilibrium. Shade the areas indicate shortages, surpluses, consumer surpluses, and producer surpluses. b. Describe why a $3.50 per pound pricing will cause the market to be out of equilibrium. c. According to recent studies, eating cauliflower regularly provides considerable healing benefits. At every price point, the demand for cauliflower doubles the supply. Create a demand schedule and graph to reflect the shift in demand
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