3. Figure 2.16 shows the market for large bags of potato chips. 3.00 Is 2.50 2.00 Price ($) 1.50 1.00 D 0.50 0.00 0 10 20 30 40 50 60 70 80 Quantity per week FIGURE 2.16 a. What is the equilibrium price and quantity? Price: Quantity: b. If the price is $2.25, is there a surplus or shortage of potato chips? Surplus/shortage of units C. If the price is $1.50, is there a surplus or shortage of potato chips? Surplus/shortage of units