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Market for Combs

Price

$($Dollars per comb$)$

Quantity

Demanded

$($Combs$)$

$$

$(?)$

$500$

Quantity Supplied $($Combs$)$

The equilibrium price in this market is $$ per comb, and the equilibrium quantity is $$ combs 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.

$\backslash$table$[[\backslash$table$[[$Price$],[($Dollars per comb$)]],$Shortage or Surplus,$\backslash$table$[[$Shortage or Surplus Amount$],[($Combs$)]]],[60,-,],[40,,]]$