Family Pictures August 2017 Apple ICloud Yahso Bing Googe Wikipedia The Weather
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Family Pictures August 2017 Apple ICloud Yahso Bing Googe Wikipedia The Weather Channel Facebosk Twitter Linkedi Yelp Aplia: Student Question 12. Market equilibrium and disequilibrium The following graph shows the monthily demand and supply curves in the market for calendars Use the graph input tool to help you answer the following questions. Enter an amount into the Price feld to see the quantity supplied at chat price. You will not be graded on any changes you make to this graph. Graph Input Tool Market for Calendars (Dolars per tity Supplied 50 00 150 200 250 30 360 400 40 00 QUANTITY (Calendans) The equilibrium price in this market is s per calendar, and the equilbrium quantity is calendars bought and sold per month. MacBook Pro 5 6 8 9Explanation / Answer
Equilibrium occurs when quantity demanded is equal to quantity supplied. For equilibrium, flocate the intersection of demand and supply curves. At price of $40, demaand and supply curve intersects and are equal to 250 units. So equilibrium price is $40 and equilibrium quantity is 250 units.
At price of $32, quantity supplied is 200 units but quantity demanded is 350 units. So demand > supply. So there is shortage of 350-200= 150 units of calender. Due to shortage, price of the calender will increase, which will decrease the quantity demanded and increase the quantity supplied until the equilibrium is reached.
At price of $48, quantity supplied is 300 units but quantity demanded is 100 units. So demand < supply. So there is surplus of 300-100= 200 units of calender. Due to surplus, price of the calender will decrease, which will increase the quantity demanded and decrease the quantity supplied until the equilibrium is reached.
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