Question One: (24 marks) (B3, C2, D1, D2, D4) Given demand and supply for strawberry yoghurt as shown in the table below Quantity of strawberry Quantity of strawberry yoghurt demanded per yoghurt supplied per day Price in (S) day (units) (units) 0.5 400 120 0.75 380 140 1 360 160 1.25 340 180 1.5 320 200 1.75 300 220 2 280 240 2.25 260 260 2.5 240 280 Wide 5 spellcheck BO 2 SV Servan w 1 Column 1 TUA.XX, A.R.A.A Abbcod AaBbc AaBbc Bbcel Normal Heading 1 Heading 2 dng EA Vording 8 and Select Setting Stock Rece Instructions: 1. Using excel, find the equilibrium price and quantity of strawberry yoghurt, show the point on the graph. (6 marks) 2. If people taste changes in favor of strawberry yoghurt that increases the demand by 40 units at every price. a) Find the new equilibrium price and quantity. (4 marks) b) Show the shift of the demand curve on the graph. (4 marks) 3. Starting from the original equilibrium If there is an improvement in technology that increases strawberry yoghurt production by 20 units at every price. a) Find the new equilibrium price and quantity. (6 marks) b) Show the shift on the graph. (4 marks)