Answer the following questions

The market for potato chips is competitive and table below shows the demand and supply schedules. Use the data to answer the questions below. Quantity Quantity supplied demanded (millions of (millions of packets of chips packets of chips per year) per year) PART A: What is the equilibrium price and quantity in this market? Explain. [5 marks] PART B: If the actual price in the market were $9, what would drive the market towards the equilibrium? Explain in detail. [6 marks] PART C: If the actual price in the market were $5, hat would drive the market towards the equilibrium? Explain in detail. [6 marks] PART 0: Harry-Chips is a rm in the potato chips industry. Harry Chips produces 10 million packets of chips per year at an average total cost n-l-A\\ (A