Questions: Price, Quantity Demanded, Quantity Supplied 1 or less, 4, 0 1 to 4, 3, 1 4 to 7, 2, 2 7 to 9, 1, 3 More than 9, 0, 4 Use Eric's supply schedule and Bob's demand schedule to find the quantity supplied and quantity demanded at prices of 2, 5, and 8.

To find the quantity supplied and quantity demanded at specific prices using Eric's supply schedule and Bob's demand schedule, we need to refer to the given table and match the prices with the corresponding quantities.

\[ \begin{array}{ccc} \text{Price} & \text{Quantity Demanded} & \text{Quantity Supplied} \\ \hline \$ 1 \text{ or less} & 4 & 0 \\ \$ 1 \text{ to } \$ 4 & 3 & 1 \\ \$ 4 \text{ to } \$ 7 & 2 & 2 \\ \$ 7 \text{ to } \$ 9 & 1 & 3 \\ \text{More than } \$ 9 & 0 & 4 \\ \hline \end{array} \]

1. Price = \$2:

   • According to the table, \$2 falls in the range of "\$1 to \$4".
   • Quantity Demanded: 3
   • Quantity Supplied: 1

2. Price = \$5:

   • According to the table, \$5 falls in the range of "\$4 to \$7".
   • Quantity Demanded: 2
   • Quantity Supplied: 2

3. Price = \$8:

   • According to the table, \$8 falls in the range of "\$7 to \$9".
   • Quantity Demanded: 1
   • Quantity Supplied: 3

• At a price of \$2, the quantity demanded is 3 and the quantity supplied is 1.
• At a price of \$5, the quantity demanded is 2 and the quantity supplied is 2.
• At a price of \$8, the quantity demanded is 1 and the quantity supplied is 3.