Consider the following demand and supply schedule for apples: Price (cents) Quantity Demanded Quantity Supplied 90 100 160 80 110 150 70 120 140 60 130 130 50 140 120 40 150 110 30 160 100 (For the following questions, enter your responses rounded to whole numbers i.e. no decimals ignoring any "$" and/or "," symbols) What is the equilibrium price and quantity? The equilibrium price is cents per apple. The equilibrium quantity is apples. If the price were 70 cents per apple, would there be a shortage or surplus? (Type either 'shortage' or 'surplus'). This amount is equal to apples. If the price were 40 cents per apple, would there be a shortage or surplus? (Type either 'shortage' or 'surplus'). This amount is equal to apples