Question
comparison between market equilibrium in demand and supply? (I need a table + digram)
comparison between market equilibrium in demand and supply? (I need a table + digram)
Homework Answers
Answer #1
Market Equilibrium refers to the situation where Quantity Demanded equal to the Quantity supplied.
If price is above the market equilibrium then Quantity supplied is greater then quantity demanded. Where as
If price is below the the market equilibrium then Quantity demand is greater then Quantity supplied
| Price | Quantity Demanded | Quantity supplied |
| $1.00 | 800 | 500 |
| $1.20 | 700 | 550 |
| $1.40 | 600 | 600 |
| $1.60 | 550 | 640 |
| $1.80 | 500 | 680 |
| $2.00 | 640 | 700 |
| $2.20 | 420 | 720 |
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