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Social Studies, 06.07.2019 19:30 Piglets1228
Using the equilibrium graph below, answer the following questions. a. what is the equilibrium price? b. how do you know this is the equilibrium price? c. if consumers demand a quantity of 100 at $4.00 per item and suppliers supply 200 of the item at $4.00, is a shortage or a surplus created? d. if consumers demand a quantity of 200 at $2.00 per item and suppliers supply 100 of the item at $2.00, is a shortage or a surplus created? e. why don't suppliers want to supply more of the good at $2.00 per item? f. why do suppliers want to supply more of the good at higher prices? g. why don't consumers demand as much of the item at higher prices?
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Using the equilibrium graph below, answer the following questions. a. what is the equilibrium price?...
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