The demand and supply schedule of 'Pizza by the Bay is given below: Price (Rand/pizza) 140 120 100 80 60 40 20 Quantity Demanded (Millions per week) 50 100 200 300 400 500 600 Quantity supplied (Millions per week) 600 500 400 300 200 100 50 a) (i) Illustrate the graphical representation of the Pizza market and explain how can we identify the equilibrium price and quantity within it. a) (ii) Predict how the Pizza market responds to a price of R120 per pizza. Determine whether there is a surplus or a shortage, and explain how the price will need to be adjusted to restore equilibrium. b) Inflation is often a complex and multifaceted issue that requires coordination and cooperation among various stakeholders, including government policymakers, central banks, and businesses. In some cases, political factors, such as corruption or instability, can also exacerbate inflationary pressures, making it even more challenging to combat. Critically analyse and elaborate, on how combating inflation has proven to be a challenging economic issue for both developed and underdeveloped nations. E Aav (A) UF X X G BI E, K PRICE RAND/PIZZA 140 120 100 80 60 40 20 0 140 120 @@ 60 100 80 G 80 % BBI T 514 100 A 60 00 120 140 500 700 -demand -Supply (25 Marks)