Refer to the figure at right. At a price of $10, excess quantity supplied equals Part 2 A. infinity. B. 15. C. O. D. 12. Price ($) 12- 10- 8- 2- 0- 0 3 Quantity 12 15 S D 18

Market for Gasoline Price SI Pel DI Qel Quantity 9. Fewer COVID restrictions lead to more vacation and work travel by car. a. Shift only one curve on the graph and label the new curve ( b. Surplus or Shortage immediately after the change in demand or change in supply? ( c. Label the surplus or shortage distance on the graph. d. Locate all new points (E2, Pe2, Qe2) on the graph. e. Pe2? f. Qe? Draw new curve and label as required. Write surplus or shortage in the required space and show this distance on graph. Label all new points on graph as required. Write "increases, "decreases," or "indeterminate" next to Pe2? and Qe2? above. If one of these values is indeterminate, indicate this on the graph by addition a "?" to the appropriate label.

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Pure Chase Rice Concert Tickets Price $25.00 20.00 15.00 10.00 200 400 500 600 700 Refer to Figure: Chase Rice Concert Tickets. If the price is $10 Othere is a shortage of 200 tickets. there is a shortage of 300 tickets. O there is a surplus of 200 tickets. O there is a surplus of 300 tickets. there is a shortage of 600 tickets. 800 D Quantity

Does a surplus or a shortage arise at the original price when more firms produce   smartphones ?   A _______ arises at the original price that is eliminated _________.     A. shortage ; as the price falls   B. surplus ; as demand increases   C. shortage ; as demand decreases   D. surplus ; as the price falls

4 qor Q 5. Draw a supply and demand curve for cups of coffee in Washingtonville, New York. Assume that the equilibrium price is $1 per cup and the equilibrium quantity is 2000 cups per day. What happens if the government decides to limit the price of a cup of coffee so no one can charge more than 50 cents per cup?