The table below presents the average monthly demand and supply of 4' × 8' sheets of plywood from a typical home building supply store. In any month when coastal states such as Florida are threatened by hurricanes, the typical monthly demand for plywood increases by 400 sheets at every price. Imagine Florida passes a "price gouging" law that prevents home building supply stores from raising the price of plywood when hurricanes threaten. Market for Plywood Price (dollars)Initial Quantity of Plywood Demanded (sheets)Initial Quantity of Plywood Supplied (sheets)New Quantity of Plywood Demanded (sheets) $106,1003,3006,500 115,9003,5006,300 125,7003,7006,100 135,5003,9005,900 145,3004,1005,700 155,1004,3005,500 164,9004,5005,300 174,7004,7005,100 184,5004,9004,900 194,3005,1004,700 204,1005,3004,500 213,9005,5004,300 Instructions: Enter your answers as a whole number. a. When there are no hurricanes threatening Florida, and without the "price gouging" law in place, what are the equilibrium price and quantity in the plywood market
