Question: I need help with these questions Question 8 3 pts Draw a diagram of a surplus. Be sure to LABEL the quantity demanded, quantity supplied,

I need help with these questions

I need help with these questions Question 8 3 pts Draw a

Question 8 3 pts Draw a diagram of a surplus. Be sure to LABEL the quantity demanded, quantity supplied, and the surplus or shortage. (Hint: your diagram should look like the one in the PPT presentation) **Please draw your own diagram (don't copy and paste one from the internet). D Question 9 1 pts If the current price is below the equilibrium price there will be [ Select ] Question 10 3 pts Draw a diagram of a shortage. Be sure to LABEL the quantity demanded, quantity supplied, and the surplus or shortage. (Hint: your diagram should look like the one in the PPT presentation) **Please draw your own diagram (don't copy and paste one from the internet). D Question 11 1 pts The point where the quantity demanded is equal to the quantity supplied is called the [ Select ] D Question 12 1 pts An event that affects the production of a good will cause the curve to shift. [ Select ] Question 13 2 pts In your own words, briefly explain (one sentence) what an inferior good is and provide an obvious example. (Hint: be sure to talk about income in your definition). D Question 14 2 pts In your own words, briefly explain (one sentence) what a normal good is and provide an obvious example. (Hint: be sure to talk about income in your definition)

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