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Equilibrium: Where Supply Meets Demand - End of Chapter Problem Movie stars such as Salma Hayek, Samuel L. Jackson, Dwayne Johnson, and Jennifer Lawrence are paid millions of dollars per movie, which can take as much as 6 months of full-time work for an actor. By contrast, doctors and nurses earn considerably less over the same time period. Why might this be? a. While the supply of major film stars is small and relatively fixed in the short run, the demand for the average doctor or nurse is quite large globally. By contrast, the marginal benefit of the services provided by major film stars - is relatively low, although the total benefit is quite high. b. This illustrates the diamond-water paradox. False TrueEquilibrium: Where Supply Meets Demand End of Chapter Problem The average price of gasoline is $3.25 per gallon in your town. a. At a price of $0.50 per gallon, there would be a shortage v as the amount of gasoline people are willing and able to buy exceeds v the amount of gasoline gas stations are willing and able to sell. b. At a price of $6.00 per gallon, there would be a surplus - as the amount of gasoline people are willing and able to buy is less than - the amount of gasoline gas stations are willing and able to sell