S Excess supply or surplus $2.20 $1.80 An above-equilibrium price Equilibrium price A below-equilibrium price $1.40 a $1.20 $1.00 Excess demand or shortage D $0.60 300 400 500 600 700 800 900 Quantity of Gasoline (millions of gallons) P ($ per gallon)

Show in a diagram the effect on the demand curve, the supply curve, the equilibriumprice, and the equilibrium quantity of each of the following scenarios.c. The market for blueberry muffinsi. Scenario 1: More people become health conscious and realize the highsugar content of muffins. ii. Scenario 2: The price of blueberries has increased

Question 3 For question 3, 4, and 5, use the table below for the Demand and Supply of Widgets Price Quantity Demanded Quantity Supplied $1 18 -3 $2 16 6 $3 14 9 $4 12 12 $5 10 15 The equilibrium price is $2 $3 O $4 O $5

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?