Complete the following table by indicating at each price whether there is a shortage or surplus in the market, the amount of that shortage or surplu. and whether this places upward or down ward pressure on prices. Price Shortage or Surplus Amount (Dollars per tote bag) Shortage or Surplus (Tote bags) Pressure 48 Shortage V V 32 V V 12. Market equilibrium and disequilibrium The following graph shows the monthly demand and supply curves in the market for tote bags. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. \\ Graph Input Tool (P); 80 Market for Tote bags 72 Price 64 Supply (Dollars per tote 48 bag) 5 56 Quantity Quantity Supplied % Demanded 125 (Tote bags) 300 '1' 43 + + (Tote bags) 0) 3 40 I I 5 I I g 32 I I Demand I I I g 24 I I n. 16 I I I I e I I llJllllllll _. 0 50 100 150 200 250 300 350 400 450 500 QUANTITY (Tole bags) 0 The equilibrium price in this market is $40 per tote bag, and the equilibrium quantity is 250 tote bags per month