Illustrates the market for chocolate bars have the following demand and supply ;
schedules: [1.5 Marks]
| Price | Quantity Demanded | Quantity Supplied |
| $3 | 111 | 26 |
| $4 | 100 | 53 |
| $5 | 80 | 80 |
| $6 | 64 | 92 |
| $7 | 51 | 111 |
| $8 | 37 | 120 |
- Graph the demand and supply curves. What is the equilibrium price and quantity in this market?
- If the actual price in this market were above the equilibrium price, what would
drive the market toward the equilibrium?
- If the actual price in this market were below the equilibrium price, what would
drive the market toward the equilibrium?
