PLS HELP The equilibrium price in the market is $_ per calendar, and the equilibrium quantity is ___ calendars brought and sold per month.

Complete the ff table by indicating at each price whether there is a shortage or surplus in the market, the amount of that shortage or surplus, and whether this places upward or downward.

Price
48 (shortage/surplus) amount _ Pressure (upward/downward)
32 (shortage/surplus) amount _ Pressure (upward/downward)

Anewspaper story on the effect of higher milk prices on the market for ice cream contained the following: "as a result [of the increase in milk prices], retail prices for ice cream are up 4 percent from last year. . and ice cream consumption is down 3 percent." source: john curran, "ice cream, they scream: milk fat costs drive up ice cream prices," associated press, july 23, 2001. based on the information given, what is the price elasticity of demand for ice cream?