Fill in the Demand Schedule below, and draw the Three Separate Private Demand functions. Then draw on a separate graph the Market Demand function and  the Market Supply function Show the market equilibrium price and quantity. Is there a shortage or a surplus when the price is P=10 and by how much? Explain the market mechanism that restores equilibrium when we have either a shortage or a surplus.   Price John James Jane Market Dem. Market Sup. 2 6 8 6   -- 4 4 6 5   5 6 2 4 4   10 10 0 2 3   15

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