Attempts 12. Market equilibrium and disequilibrium The following graph shows the monthly demand and supply curves in the

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Attempts 12 Market Equilibrium And Disequilibrium The Following Graph Shows The Monthly Demand And Supply Curves In The 1 (76.75 KiB) Viewed 29 times

Attempts 12. Market equilibrium and disequilibrium The following graph shows the monthly demand and supply curves in the market for shirts. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. PRICE (Dollars per shirt) 80 72 56 Keep the Highest/2 48 32 0 X Supply Demand 50 100 150 200 250 300 350 400 450 500 QUANTITY (Shirts) Graph Input Tool Market for Shirts Price (Dollars per shirt) Shortage or Surplus 48 32 Price (Dollars per shirt) Quantity Demanded (Shirts) 24 500 The equilibrium price in this market is $24 per shirt, and the equilibrium quantity is 500 shirts bought and sold per month. Shortage or Surplus Amount (Shirts) Quantity Supplied (Shirts) Complete the following 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 pressure on prices. Pressure Ⓒ Grade It Now 0 Save & Continue Continue without saving