The market for pizza has the following demand and supply schedules: Price $4 Quantity Demanded Quantity Supplied 26 pizzas 53 135 pizzas 104 81 68 53 39 81 98 7 8 9 110 121 a. (0.4 pt) Graph the demand and supply curves. What is the equilibrium price and equilibrium quantity in this market? (Make sure to label the axes.) b. (0.2 pt) If the actual price in this market was below the equilibrium price, what would result? Then, what would drive the market toward the equilibrium? c. (0.2 pt) If the actual price in this market was above the equilibrium price, what would result? Then, what would drive the market toward the equilibrium?

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