At what price is the euilibrium price

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Reference no: EM13158755

Construct a suppy and demand graph. the prices vertical top to bottom are $3.00, $2.50, $2.00, $1.50, $1.00. the horizontial quantities are 60,70,80,90,100. Starting at the $1.00 price the supply points are 60,70,80,90,100. Starting at the demand price $3.00 the demand quantities are 60,70,80,90,100.

1. at what price is the euilibrium price?

2. at what price does suplus occur? at how many large?

3. at swhat price does shortage occur? at how many large?

Reference no: EM13158755

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