Answer Happy

1 ner 12. Market equilibrium and disequilibrium The following graph shows the monthly demand and supply curves in the market for hats. 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 hat) 28*ACES 54 40 12 6 0 Supply 0100 200 300 400 500 600 700 800 900 1000 QUANTITY (Hats) The equilibrium price in this market is s Graph Input Tool Market for Hats Price (Dollars per hat) Quantity Demanded (Hats) per hat, and the equilibrium quantity is MacBook Air 600 Quantity Supplied (as) hats bought and sold per month 200
PRICE (Dollars per hat) 36 HK Demand 30 24 12 6 Supply 0 100 200 300 400 500 600 700 800 900 1000 QUANTITY (Hats) The equilibrium price in this market is s Quantity Demanded (Habs) Price (Dollars per hat) Shortage or Surplus 18 42 per hat, and the equilibrium quantity is 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. Shortage or Surplus Amount (Hats) Quantity Supplied (Hab hats bought and sold per month Pressure