Equilibrium Price

What is the equilibrium price in this graph?

• $1.50

• $1.00

• $.50

• $2.00

What happens if there is surplus?

• Sellers offer their products by lowering the price

• Sellers offer their products by raising the price

• Buyers are easy to find

• Sellers stick to the price they are offering

What would result if the price were set at $1.75

• Surplus, Quantity Supplied is greater

• Shortage, Quantity Demanded is greater

• Quantity Supplied = Quantity Demanded

• $1.75

If a price is above equilibrium price, it creates a...

• shortage
• surplus
• market price
• demand

Suppose that the market for coats is described as follows: What is the equilibrium price of coats?

• 120

• 100

• 80

• 60

When the quantity demanded is greater than the quantity supplied it is known as

• equilibrium

• a shortage

• a surplus

• an opportunity cost

What is the Equilibrium Price?

• 1
• 2
• 3
• 4

According to this schedule, the equilibrium price for pizza is:

• $3

• $2

• $1

• $6

Tags

CCSS.8.EE.B.5

At $1 there is a(n):

• Shortage

• Surplus

• Equilibrium

• Overload

Every price higher than $3 would represent a(n):

• Surplus

• Shortage

• Equilibrium price

• Input cost