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 40 60

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* CENGAGE MINDTAP
Homework (Ch 04)
The following graph shows the monthly demand and supply curves in the market for keyboards.
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
(?)
100
Market for Keyboards
Price
(Dollars per
keyboard)
40
80
Supply
Quantity
Demanded
(Keyboards)
70
Quantity Supplied
(Keyboards)
300
125
60
50
40
30
Demand
20
10
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
(Dollars per keyboard)
Shortage or Surplus
(Keyboards)
Pressure
40
60
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DELL
PRICE (Dollars per keyboard)
Transcribed Image Text:e.com/static/nb/ui/evo/index.html?deploymentld%3D56722123195413175237392455206&elSBN=9781337096546&id=11592780698&nb * CENGAGE MINDTAP Homework (Ch 04) The following graph shows the monthly demand and supply curves in the market for keyboards. 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 (?) 100 Market for Keyboards Price (Dollars per keyboard) 40 80 Supply Quantity Demanded (Keyboards) 70 Quantity Supplied (Keyboards) 300 125 60 50 40 30 Demand 20 10 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 (Dollars per keyboard) Shortage or Surplus (Keyboards) Pressure 40 60 Grade It Now Save & Continue Continue without saving DELL PRICE (Dollars per keyboard)
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