Cups of Coffee $6 $5 $4 $3 Demand $2 Osupply $1 $0 Quantity 1. According to the graph above, what is the equilibrium price? 2. According to the graph above, what is the equilibrium quantity? 3. If the price is $5, how many cups of coffee will consumers wish to purchase? 4. If the price is $5, how many cups of coffee will producers wish to sell? 5. Will this result in a surplus or shortage of cups of coffee? 6. If the price is $1, how many cups of coffee will consumers wish to purchase? 7. If the price is $1, how many cups of coffee will producers wish to sell? 8. Will this result in a surplus or shortage of cups of coffee? Price 001

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