Demand and supply often shift in the retail market for gasoline. Below are two demand curves and two supply curves for gallons of gasoline in the month of May in a small town in Maine. Some of the data are missing. Using the table, answer the following questions: Quantities Demanded Quantities Supplied Price 1 D2 $1 $2 $ 6.00 16,000 15,000 18, 080 19,606 4 16,090 16,060 18,000 4.00 17, 000 10, 000 18, 006 10,006 a. Use the following facts to fill in the missing data in the table. If demand is Dy and supply is S1, the equilibrium quantity is 14,000 gallons per month. When demand is D2 and supply is S1, the equilibrium price is $5.00 per gallon. When demand is D2 and supply is Sy, there is an excess demand of 8,000 gallons per month at a price of $3.00 per gallon. If demand is Dy and supply is $2, the equilibrium quantity is 16,000 gallons per month. b. Compare the two equilibriums: In the first, demand is D and supply is S1. In the second, demand is Dy and supply is $2- By how much does the equilibrium quantity change? Equilibrium quantity |(Click to select) ~] by gallons per month. By how much does the equilibrium price change? Equilibrium price |(Click to select) ~ ] by $ c. If supply falls from $2 to S, while demand simultaneously declines from D2 to Dy, does the equilibrium price rise, fall, or stay the same? (Click to select) v What happens if only supply falls? (Click to select) v