Price -------------------------------- $4 --------------$5 ----------------- $6 ------------------ $7 ---------------- $
Posted: Mon May 02, 2022 8:21 am
Price -------------------------------- $4
--------------$5 ----------------- $6 ------------------ $7
---------------- $8 ------------------ $9
Quantity Demanded ------------135 -------------104
----------------- 81 ------------------ 68 ---------------- 53
------------------39
Quantity Supplied --------------- 26 -------------- 53
----------------- 81 ------------------ 98 ---------------- 110
---------------121
1. What's the equilibrium
price? How did you get it?
2. At $5, is there a shortage or a
surplus? How much? How can you tell?
--------------$5 ----------------- $6 ------------------ $7
---------------- $8 ------------------ $9
Quantity Demanded ------------135 -------------104
----------------- 81 ------------------ 68 ---------------- 53
------------------39
Quantity Supplied --------------- 26 -------------- 53
----------------- 81 ------------------ 98 ---------------- 110
---------------121
1. What's the equilibrium
price? How did you get it?
2. At $5, is there a shortage or a
surplus? How much? How can you tell?