The demand and supply schedules for a certain good are like follows:

Demand Schedule Supply Schedule

Price $ Quantity Price $ Quantity

27 160 27 14

28 140 28 16

29 120 29 18

30 100 30 20

31 80 31 40

32 60 32 60

33 40 33 80

34 20 34 100

35 18 35 120

36 16 36 140

37 14 37 160

a. Graph and label Demand and Supply.must be in scale

b. Find the equilibrium price and quantity from the graph.

c. What will happen if the price is set at $34.Please specify the distance and term,

also show it on the graph

d. What will happen if the price is set at $29.Please specify the distance term, also

show it on the graph.