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$12.$ Market equilibrium and disequilibrium

The following graph shows the monthly demand and supply curves in the market for notebooks.

Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph.

Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly.

$0$

$50$

$100$

$150$

$200$

$250$

$300$

$350$

$400$

$450$

$500$

$80$

$72$

$64$

$56$

$48$

$40$

$32$

$24$

$16$

$8$

$0$

PRICE $($Dollars per notebook$)$

QUANTITY $($Notebooks$)$

Demand

Supply

Graph Input Tool

Market for Notebooks

Price

$($Dollars per notebook$)$

Quantity Demanded

$($Notebooks$)$

Quantity Supplied

$($Notebooks$)$

The equilibrium price in this market isper notebook, and the equilibrium quantity is notebooks 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

Shortage or Surplus Amount

Pressure

$($Dollars per notebook$)$

$($Notebooks$)$

$32$

$48$