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The following table shows their respective supply and demand schedules: Price Quantity Supplied Quantity Demanded More than $7 4 0 $5 to $7 3 1

The following table shows their respective supply and demand schedules:

Price Quantity Supplied Quantity Demanded
More than $7 4 0
$5 to $7 3 1
$3 to $5 2 2
$1 to $3 1 3
$1 or less 0 4

Use Charles's supply schedule and Yakov's demand schedule to find the quantity supplied and quantity demanded at prices of $2, $4, and $6. Enter these values in the following table.

Price Quantity Supplied Quantity Demanded
2
4
6

A price of ______ brings supply and demand into equilibrium.

At the equilibrium price, consumer surplus is____, producer surplus is________, and total surplus is______

If Charles produced and Yakov consumed one less bottle of water, total surplus would fall/rise .

If instead, Charles produced and Yakov consumed one additional bottle of water, total surplus would fall/rise .

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