Econ 4.1

Use the table to answer questions about the demand for and supply of Blu-ray movies. What is the equilibrium price per movie?

$10

The table contains information on the price per month and the monthly demand and supply of online music streaming subscriptions. what is the equilibrium price? what is the equilibrium quantity?

$11.60/ 380 thousand

The initial equilibrium price and quantity (at the intersection of S1 and D) of sugar are:

$25 and 300 pounds.

Use the point labelled E to identify the point where Qd =Qs in the market for pizza. What are the equilibrium price and quantity?

$5 / 10 pizzas

If the supply and demand curves intersect at a price of $60, then any price above that would result in:

a surplus

Use the table to answer questions about the demand for and supply of Blu-ray movies. At a price of $12 per movie,

a surplus of 20 movies occurs.

If the market for bison meat is in equilibrium, the price of bison meat will probably _____ in the near future.

not change

If the price in the market is such that the quantity supplied exceeds the quantity demanded, then the:

price is above the equilibrium price.

If the price of matcha tea is $1.25 per cup, we would expect the price to:

remain unchanged.

Use Figure: Supply, Demand, and Equilibrium. In the market illustrated in the figure,

the equilibrium price is P2, and the equilibrium quantity is Q2.

Market equilibrium does NOT occur when:

there is an incentive for prices to change.