A. Block Ice In 1929 the block ice industry in Personville, MT was perfectly competitive. The weekly supply and demand schedules for this product are given below. The Q's are measured in blocks per week and the P's are measured in $fblock. --------------------------------- 1. What are equilibrium P and Q? 2 10 70 2. What is excess demand at P = 4? 4 20 60 6 30 50 8 40 4O 3. What is the demand curve slope if the demand 10 50 30 data are plotted in the standard PXQ diagram? 4. Give a quantitative, one sentence interpretation of this slope. What exactly is it saying