Following is the schedule of quantities that would be supplied and demanded at various prices for oranges.

Price Quantity Demanded Quantity Supplied

$10.00 200 600

9.00 250 550

8.00 300 500

7.00 350 450

6.00 400 400

5.00 450 350

4.00 500 300

3.00 550 250

2.00 600 200

b.If 40% of the orange crop is lost due to bad weather, show the impact on the market using the chart with any changes to the supply and/or demand curves to identify the new equilibrium price.(Use the additional column on the chart as needed to calculate new quantities and graph them to identify the impact on the market.)