Demand and supply petrol

Price. Quantity de. Qsuppli

1.40. 8. 24

1,30. 10. 22

1,20. 12. 20

1,10. 14. 18

1,00. 16. 16

0.90. 18. 14

What is the equilibrium price of petrol and equilibrium quantity of petrol traded

Suppose that the quantity of petrol supplied suddenly declines by 8 million of litres per day at every price

Construct new table of price, quantity demanded and quantity supplied, draw a graph to illustrate a new market situation.

How has the change in price affected the behavior of the demanders and the behavior of the suppliers.