Demand100 50 100 150 200 250 300 350 400 450 500QUANTITY (Keyboards)The equilibrium price in this market is $per keyboard, and the equilibrium quantity iskeyboards bought and sold per month.Complete the following table by indicating at each price whether there is a shortage or surplus in the market, the amount of that shortage or surplus,and whether this places upward or downward pressure on prices.PriceShortage or Surplus Amount(Keyboards)Pressure(Dollars per keyboard) Shortage or Surplus3248OL9F6F12F20-PRICE (Dolla@24168F3:0+*F4$F5%F7| ^F8&F9!!!!!★ⒸF10-OF112FnLockA-Z6 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.Graph Input Tool(?)Market for Keyboards8072SupplyPrice(Dollars perkeyboard)6456QuantityDemanded(Keyboards)Quantity Supplied(Keyboards)484032Demand24161nI8I00 50 100 150 200 250 300 350 400 450 500QUANTITY (Keyboards)AF103°Fin comingF11PRICE (Dollars per keyboard)F2*2++-0-F3:Q+#3F4$4F5OO%5F6IF7a>6=F816310&7CIF9* 008D(1009F11F120FnLockA-ZLbongo012:12 PM5/28/202InsertPrt S

The point at which the supply and demand curves cross is called equilibrium.

PRICE (Dolla Demand 1 0 0 50 100 150 200 250 300 350 400 450 500 QUANTITY (Keyboards) The equilibrium price in this market is $ per keyboard, and the equilibrium quantity is keyboards bought and sold per month. 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. Price Shortage or Surplus Amount (Keyboards) (Dollars per keyboard) Shortage or Surplus Pressure 32 48 9 F5 F6 F12 F2 16 8 F3 F4 F7 F8 CI Ⓒ F9 F10 F11 A-Z

PRICE (Dolla Demand 1 0 0 50 100 150 200 250 300 350 400 450 500 QUANTITY (Keyboards) The equilibrium price in this market is $ per keyboard, and the equilibrium quantity is keyboards bought and sold per month. 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. Price Shortage or Surplus Amount (Keyboards) (Dollars per keyboard) Shortage or Surplus Pressure 32 48 9 F5 F6 F12 F2 16 8 F3 F4 F7 F8 CI Ⓒ F9 F10 F11 A-Z

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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