The equilibrium price in this market is S per notebook, and the equilibrium quantity is Price (Dollars per notebook) 48 32 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. Shortage or Surplus notebooks per month. Shortage or Surplus Amount (Notebooks) Pressure

10. Market equilibrium The following table shows the monthly demand and supply in the market for shoes in San Francisco. Price Quantity Demanded Quantity Supplied (Dollars per pair of shoes) (Pairs of shoes) (Pairs of shoes) 20 1,650 300 40 1,200 750 60 600 1,050 80 300 1,350 100 150 1,500 On the following graph, plot the demand for shoes using the blue point (circle symbol). Next, plot the supply of shoes using the orange point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for shoes. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 120 100 Demand 80 Supply 60 Equilibrium 40 20 300 600 900 1200 1500 1800 QUANTITY (Pairs of shoes) PRICE (Dollars per pair of shoes)

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 80 Market for Teapots 72 A-Z I Price (Dollars per teapot) Supply 16 64 Quantity Demanded Quantity Supplied (Teapots) 56 310 100 (Теароts) 48 40 32 Demand 24 16 50 100 150 200 250 300 350 400 450 500 QUANTITY (Teapots) teapots bought and sold per month. per teapot, and the equilibrium quantity is A The equilibrium price in this market is S 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. MacBook Air F10 PRICE (Dollars per teapot)

8. Another supply and demand puzzle The market price of calzones in a college town decreased recently, and the students in an economics class are debating the cause of the price decrease. Some students suggest that the price decreased because a new type of pizza oven allows pizza shops to make a calzone in half the time. Other students attribute the decrease in the price of calzones to a recent decrease in college student enrollment. The first group of students think the decrease in the price of calzones is due to the fact that a new type of pizza oven allows pizza shops to make a calzone in half the time. On the following graph, adjust the supply and demand curves to illustrate the first group's explanation for the decrease in the price of calzones. PRICE (Dollars per calzone) QUANTITY (Calzones) Supply Demand Demand 宁夏中磨 -0- Supply The second group of students attribute the decrease in the price of calzones to the decrease in college student enrollment. On the following graph, adjust…

© Macmillan Learning Suppose the accompanying graph depicts a market for one pound bags of candy. Place the line labe! Shortage at a price that would generate a shortage and then, determine its size. Price per bag 10 9 8 7 5 4 3 2 1 2 Market for Candy Shortage 3 4 5 6 7 Quantity (millions of bags) S 8 D 9 10 Shortage= 3 million bags