1. Using the data in the table below, explain the equilibrium quantity and equilibrium price for a cellular telephone. Draw a graph to show equilibrium price and output. (10 points) 2. The graph below illustrates the market for computers. If the number of computer buyers increases and technology advances, how will equilibrium price and output in the market for computers be affected? Assume the changes in technology and number of buyers are equal in magnitude (in terms of how much they shift the supply or demand curve). Show the effect of these changes on the graph.