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2. The demand and supply schedules for potato chips are in the table. Quantity Quantity Price demanded supplied (cents per bag) ( millions of bags
2. The demand and supply schedules for potato chips are in the table. Quantity Quantity Price demanded supplied (cents per bag) ( millions of bags a week) 50 160 130 60 150 140 70 140 150 80 130 160 90 120 170 100 110 180 a. Draw a graph of the potato chip market and mark in the equilibrium price and quantity. b. Write the demand function and the supply function of the potato chip market. Calculate the equilibrium price and quantity
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