3) The demand and supply schedule for potato chips are Price Quantity Demanded Quantity Supplied 50 1600 1300 60 1500 1400 70 1400 1500 80 1300 1600 90 1200 1700 100 1100 1800 a) Draw the graph of the potato chip market and mark in the equilibrium price and quantity b) If the price is 60 cents a bag, is there a shortage or surplus in the market? How does the price will adjust