Role Playing Situation Read the role playing scenario in the textbook in section 6.6.1 where a ctitious specialty: Lymphography has its price regulated by CMS. Although the specialty is fictitious, the regulation is very realistic and explains why so much posturing, effort, and regulatory capture goes into the process. Work through the math as it is explained in that section of the book and try to match the prices and quantities derived there for P2, C12, P3. 03, and Q4. What will P4 be? $1,656.25 Will there be a surplus or shortage in year 4? Shortage Undergraduate students stop here Graduate Students: Do Part 2 below. Part 2 Graduate Students Only Using the following supply and demand equations, repeat the steps above and populate the table below. Remember the quantity supplied in vear( t )is based on the price set in year (t-1}, so your first calculation is for 0.2. (the quantity supplied in year 2} Supply: Q: = (-75/2) + (5/4]*P:.1 (equation 5) Demand: Pt = 2800 - {1/21"}: (equation D) _m_ Surplus or shortage7 1. Describe what went differently in this second model. How might this inform regulators attempting to set prices in markets where the Cobweb behavior occurs