Question 4 4 points Save Answer Consider a mid-sized southwestern college town where the demand for liquor is described by the equation Qo 1500 - 75P, where Qo is the the quantity of bottles of liquor per month, and P is the price (in dollars) for one bottle Of liquor, The supply Of liquor is described by the equation: Qs 50P - 225 were Qs IS the quantity Of bottles Of liquor per month. Last month, the local govemment repealed part of its restricting laws on the public consumption and sale of liquor. As a result of this change, the market for liquor is adjusting and the current market price is S16_ (Question 3 of 8) Specifically% what should one expect to occur in the market for liquor? Specifically, one would expect that the market price and the quantity traded