schoology con Question 7 (2 points) What is the equilibrium price for backpacks? Annual Supply and Demand for Backpacks (in Thousands) Price Quantity Demanded Quantity Supplied $40.00 14 $42.50 12 $45.00 11 $47.50 9 $50.00 7 $52.50 5 5 $55.00 $57.50 $60.00 10 $62.50 12 O a $40.00 O b $47.50 OC $52.50 O d $57.50