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The data in the tables below show quantity demanded and quantity supplied for milk at different prices

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The data in the tables below show quantity demanded and quantity supplied for milk at different prices. Price Quantity Price Quantity Demanded Supplied 12 11 14 9 2 9 11 7 8 4 5 7 3 7 2 9 3 1 10 1 a) Indicate the equilibrium price and equilibrium quantity. Explain why with your own words. (4 points) 3 7 6 4 5 2 1 b) News flash: "New study shows milk cures baldness in mice." Suppose the consumers' reaction is that at each price the quantity they are willing to buy rises by 5 litres. Write down the new equilibrium price and equilibrium quantity and explain why with your own words. (10 points)