The table shows the demand and supply schedules for milk. Price Quantity (dollars demanded Quantity supplied per carton) (cartons per day) 340 360 380 400 420 1.50 1.75 2.00 2.25 2.50 400 360 320 280 240 A drought decreases the quantity of milk supplied by 60 cartons a day at each price. What is the new market equilibrium? The new equilibrium price is $ Type a carton and the new equilibrium quantity is Type cartons of milk a day.

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