12. Market equilibrium and disequilibriumThe following graph shows the monthly demand and supply curves in the market for notebooks.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.PRICE (Dollars per notebook)238 SSAN 20no7264484032241680DemandSupply50 100 150 200 250 300 350 400 450 500QUANTITY (Notebooks)Graph Input ToolMarket for NotebooksPrice(Dollars pernotebook)QuantityDemanded(Notebooks)16310Quantity Supplied(Notebooks)100 The equilibrium price in this market is Sper notebook, and the equilibrium quantity isComplete 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.Price(Dollars per notebook) Shortage or Surplus4832notebooks per month.Shortage or Surplus Amount(Notebooks)Pressure

In economics, economic equilibrium is a situation in which economic forces such as supply and demand…

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

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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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