Use the supply and demand schedules below to answer the following questions:

Price	Quantity Demanded	Quantity Supplied
$ 10	100	20
15	80	40
20	60	60
25	40	80
30	20	100

2 points each

Instructions: Enter your answers as a whole number.

a. What is the market equilibrium price and quantity?

Market equilibrium price: _____

Market equilibrium quantity: units _____

b. What is the market price if there is a shortage of 40 units? _____

c. At a price of $25, the market experiences a__________

of units ______