Price per Bushel Quantity Demanded (bushels) Quantity Supplied (bushels) $3 36,000 0 6 30,000 3,000 9 24,000 6,000 12 19,000 10,000 15 15,000 15,000 18 10,000 21,000 21 7,000 28,000 24 4,000 36,000 Refer to Table 1. The table contains information about the corn market. Use the table to answer the following questions. (i) What are the equilibrium price and quantity of corn? (ii) Suppose the prevailing price is $9 per bushel. Is there a shortage or a surplus in the market? (iii) What is the quantity of the shortage or surplus? (iv) How many bushels will be sold if the market price is $9 per bushel? (v) If the market price is $9 per bushel, what must happen to restore equilibrium in the market? (vi) At what price will suppliers be able to sell 24,000 bushels of corn? (vii) Suppose the market price is $21 per bushel. Is there a shortage or a surplus in the market? (viii) What is the quantity of the shortage or surplus?