The equilibrium price in this market is s per keyboard, and the equilibrium quantity is keyboards bought and sold per month Complete the following table by indicating at each price whether there is a shortage or surplus in the market, the amount of that shortage ar surplus and whether this places upward or downward pressure on prices. Price Shortage or Surplus Amount (Dollars per keyboard) Shortage or Surplus (Keyboards) Pressure 48 32
The equilibrium price in this market is s per keyboard, and the equilibrium quantity is keyboards bought and sold per month Complete the following table by indicating at each price whether there is a shortage or surplus in the market, the amount of that shortage ar surplus and whether this places upward or downward pressure on prices. Price Shortage or Surplus Amount (Dollars per keyboard) Shortage or Surplus (Keyboards) Pressure 48 32
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
Problem 25P
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Question
3.
Transcribed Image Text:The equilibrium price in this market is s
per keyboard, and the equilibrium quantity is
keyboards bought and sold per month.
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.
Price
Shortage or Surplus Amount
(Dollars per keyboard) Shortage or Surplus
(Keyboards)
Pressure
48
32
Transcribed Image Text:PRICE (Dollars per keyboard)
Graph Input Tool
Market for Keyboards
Supply
Price
(Dollars per
keyboard)
24
04
56
Quantity
Demanded
(Keyboards)
Quantity Supplied
(keyboavds
500
150
40
32
Demand
24
16
50 100 150 200 250 300 30 400 40 s00
QUANTITY (Keyboarde)
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