WAEC Economics 1991 (August) Question 28

Use the following market schedule for semovita to answer the question.
Price for 5 kg bag | Quantity demanded in bags | Quantity supplied in bags
N3.00 | 15,000 | 1,500
N4.00 | 13,000 | 3,000
N5.00 | 10,000 | 6,000
N6.00 | 7,000 | 7,000
N7.00 | 5,000 | 9,000
N8.00 | 4,000 | 12,000
N9.00 | 2,000 | 14,000
If the equilibrium price falls by N2.00, what will be the change in quantity demanded and supplied?

1. A.7,000 and 6,000 bags respectively
2. B.6,000 and 4,000 bags respectively
3. C.5,000 and 4,500 bags respectively
4. D.3,000 and 3,000 bags respectively
5. E.2,000 and 2,000 bags respectively.