12. Market equilibrium and disequilibriumThe following graph shows the monthly demand and supply curves in the market for calendars.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 Tool100Market for Calendars90Price(Dollars percalendar30SupplyQuantityDemanded(Calendars)Quantity SuppliedCalendars)500805040Demand100 150 200 250 300 350 400 450 800OIANTITY Calendars803 PMarch.PRICE (Dollars per calendar) 10+50 100 150 200 250 300 350 400 450 500QUANTITY (Calendars)The equilibrium price in this market is Sper calendar, and the equilibrium quantity iscalendars 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(Dollars per calendar)Shortage or Surplus(Calendars)Pressure604040

The following graph shows the monthly demand and supply curves in the market for calendars. 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 Calendars 90 I Price (Dollars per calendar) 80 30 70 Supply Quantity Demanded Quantity Supplied (Calendars) 80 500 (Calendars) 30 40 Demand 50 100 100 200 250 300 25o 400 40 500 QUANTITY Calendars PRICE (Dollars per calendar) ---

The following graph shows the monthly demand and supply curves in the market for calendars. 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 Calendars 90 I Price (Dollars per calendar) 80 30 70 Supply Quantity Demanded Quantity Supplied (Calendars) 80 500 (Calendars) 30 40 Demand 50 100 100 200 250 300 25o 400 40 500 QUANTITY Calendars PRICE (Dollars per calendar) ---

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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no handwritten notes
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