C. The market for hamburgers has the following supply and demand schedule: Price Quantity Demanded Quantity Supplied $1 200 hamburgers 1 10 hamburgers 1.25 170 130 1.5 145 145 1.75 125 155 2.0 110 160 2.25 100 165 Graph the demand and supply curves. O 2. What is the equilibrium price and quantity in this market? 3. If the actual price in this market were above the equilibrium price, what would drive the market toward the equilibrium? 4. If the actual price in this market were below the equilibrium price, what would drive the market toward the equilibrium?Answer the following A. Given the following demand and supply functions: QD = 32 - 3P Qs = P - 8 1. Solve for the equilibrium quantity and equilibrium price. Equilibrium Quantity Equilibrium Price 2. Draw the supply and demand curves in a P vs Q plane. Label equilibrium price and equilibrium quantity ines B. Surplus and Shortage IPE 1. Given the following demand and supply functions: S QD = 48 + P Qs= 6P + 13 Solve for the quantity if the price is set at 5. Identify if there is a shortage or surplus. 2. Given the following demand and supply functions: QD = 4P +9 Qs = 11P - 12 Solve for the quantity if the price is set at 5. Identify if there is a shortage or surplus