The table shows the market supply for mobile phones and the individual demand of the three buyers, buyer A, buyer B and buyer C, which are the only 3 buyers in the Malaysian market. Price RM1000 RM1500 RM2000 RM2500 RM3000 Market Supply (unit) 5000 6000 7000 8000 9000 Demand by Buyer X (unit) 2000 1800 1600 1400 1200 Demand by Buyer Y (unit) 2600 2300 2000 1700 1400 Demand by Buyer Z (unit) 2600 3000 3400 3800 3400 a. Find the equilibrium price and quantity. [4 marks] b. Based on market equilibrium, compute the supplier's total revenue. [2 marks] c. At a price of RM1000, would there be a surplus or shortage? How much would the surplus or shortage be? [4 marks] d. At a price of RM3000, would there be a surplus or shortage? How much would the surplus or shortage be? [4 marks] Questions 2 The table below shows the quantity demanded and quantity supplied for good A. Price of A (RM) 5.00 5.50 6.00 6.50 7.00 Quantity demanded for A (units) 90 70 50 30 10 Quantity Supplied for A (units) 25 40 55 70 85 a Calculate the price elasticity of demand when the price increase from RM5.50 to RM6. [6 marks] b. Calculate the price elasticity of supply when the price decreases from RM7 to RM6.50. [6 marks] c. Based on the answer in part (a), explain how the company could boost its revenue