3. Demand: 0D: 18 0.5 P; Supply: 08: 2 + 0.5 P 0 What is the equilibrium price? What is the equilibrium quantity? What is the elasticity of demand at the equilibrium? What is the elasticity of supply at the equilibrium? What does the supply elasticity tell us here? 0000 4. Suppose that the crop is larger and supply is new OS: 4 + 0.5P; demand is still OD: 18-0.5P 0 What is the equilibrium price? What is the equilibrium quantity? What is the total revenue of suppliers at the new equilibrium? What is the elasticity of demand at the new equilibrium? What does the demand elasticity tell us here? 0000