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1. Given the table below, graph the demand and supply curves for flashlights. Make certain to label the equilibrium price and equilibrium quantity.Price () Quantity Demanded (Monthly Quantity Supplied (Monthly) 5 6,000 10,000 4 8,000 8,000 3 10,000 6,000 2 12,000 4,000 1 14,000 2,000a. What is the equilibrium price and the equilibrium quantity? b. Suppose the price is currently5. What problem would exist in the market? What would you expect to happen to price? Show this on your graph. c. Suppose
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