Anna Pastry has just recently competed in a well-known TV reality cooking show. During her time on the show she made her name for herself being the "Pastry Queen". On leaving the show, Anna decided to rent a small shop in South Melbourne market and started selling her pies.

The weekly demand and supply schedules for her blueberry pies (in thousands) are given in the table below:

Price

Quantity Demanded

Quantity Supplied

8

12

36

7

16

32

6

20

28

5

24

24

4

28

20

3

32

16

2

36

12

1

40

8

(a) Using EXCEL, plot the demand and supply curves.

(b) What are the equilibrium price and quantity traded?

(c) Assume that during the wintry months, there has been an increase in demand for Anna's pies by 4 thousand pies. Draw the new demand curve.

(d) What are the new equilibrium price and quantity traded?