Quiz2-ECO2301.pdf X + YouTube YouTube , Clavier arabe en lig... Pinterest From Mulus Home | Portal 1 /1 - 100% + Consider the following demand and supply schedules for watermelons: Consumer A Consumer B Supplier C Supplier D Supplier E 1.20 29 32 4 8 12 1.40 24 25 10 10 15 1.60 22 22 14 14 16 1.80 11 19 19 17 22 2.00 8 14 23 20 33 2.20 5 9 27 25 35 a. Calculate total quantity demanded and total quantity supplied at each price (6 Marks) b. Find equilibrium price and equilibrium quantity. Explain your answer (2 Marks) c. Suppose that Supplier C has gone and a new consumer C enters the market of watermelons, and demands the amount of watermelons similar to consumer A. Explain how these changes in the market can affect demand and supply curves. What can you say about the new equilibrium price and the new equilibrium quantity? Explain (4 marks) Suppose consumer A left the market of watermelons because price of a substitute in consumption for watermelons decreased. Explain how this will affect new equilibrium price and equilibrium quantity. Sow all your work. (4 Marks) e. If the actual price paid for watermelons is higher than equilibrium price found in a). ver Windows. what this will create in the market of watermelons a shortage or a surplus? Explain 9 Ed 25 C 0 ( FRA 13:03 28/06/2021 O M pause alt gr