The following schedule is for bushels of apples in a local market. Graph the supply and demand curves. Determine the equilibrium price and quantity. Quantity Quantity Price Demanded Supplied 20 200 1,000 18 400 800 16 600 600 14 800 400 12 1,000 200 Then, assume that an early freeze caused decrease in the harvest, and the new supply schedule is as follow. Has the supply increased or decreased? What are the new equilibrium price and quantity, assuming demand curve remains unchanged. Quantity Price Supplied 20 600 18 400 16 200 14 0