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Please help me in all of the questions below along with the table. For the questions answers should be a little briefly. Q2 The following
Please help me in all of the questions below along with the table. For the questions answers should be a little briefly.
Q2 The following table shows the market demand and the supply schedules for pumpkins on a normal weekend. Price ($ per pumpkin) Quantity demanded Quantity supplied (Pumpkins per week) What is the market equilibrium price and quantity? Why? Describe the situation in the pumpkin market if the price of a pumpkin is $19. How will the price adjust? 2 mark Describe the situation in the pumpkin market if the price of a pumpkin is $9. How will the price adjust? 2 mark iv} 0n Halloween Day, demand increases by 15000 pumpkins. What is the equilibrium price of a pumpkin on Halloween Dayr when the sellers plan to increase the normal supply by 3000 pumpkins? Complete the table to show your result. 10 marks Price Quantity demanded Quantity supplied New quantity New quantity {$ per demanded supplied pumpkin) (Pumpkins per week) 21 25000 62000 36000 60000 45 000 5T000Step by Step Solution
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