Question: PRICE PER CD QUANTITY DEMANDED PER MONTH QUANTITY SUPPLIED PER MONTH $20 500 9000 18 1000 6000 16 1500 4500 14 2000 3500 12 2500

PRICE PER CD QUANTITY DEMANDED PER MONTH QUANTITY SUPPLIED PER MONTH

$20 500 9000

18 1000 6000

16 1500 4500

14 2000 3500

12 2500 2500

10 3000 1500

8 3500 800

6 4000 100

Looking at the table above identify:

equilibrium and why?

a price where there will be excesses of supply and why?

a price at which there will be shortages and why?

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