Question 26 of 26 25.0 Points Short Answer Question - 25 points (This response will be graded by your instructor in addition to the previous quiz

I need help on this short answer question below:

Looking at the table above identify:

1. equilibrium and why? 
2. a price where there will be excesses of supply and why?
3. a price at which there will be shortages and why?

Question 26 of 2625.0 PointsShort Answer Question - 25 points(This response will be graded by your instructor in addition to the previous quiz questions to reach a final score on your assessment.)PRICE PERQUANTITY DEMANDED PERQUANTITY SUPPLIED PERCDMONTHMONTH$20500900018100060001615004500142000350012250250010300150083500800CO4000100Looking at the table above identify:a. equilibrium and why?b. a price where there will be excesses of supply and why?c. a price at which there will be shortages and why?