Question: Supply and Demand Equilibrium / Disequilibrium Practice Examine the data tables on the market for bananas at a local grocery store below: Price per $.89

Supply and Demand Equilibrium / Disequilibrium Practice Examine the data tables on the market for bananas at a local grocery store below: Price per $.89 $.79 pound $.69 $.59 $.49 Quantity 1000 900 Supplied 800 700 600 Price per $.89 $.79 pound $.69 $.59 $.49 Quantity 600 700 Demanded 800 900 100 1. What is the market clearing price for bananas? 2. In the marketplace, how will this price be determined? Remember, store manages don't have this information presented to them in a nice, neat little table. 3. What will happen if the store managers try to sell their bananas at $.89 per pound? Assume that the graph below shows the market for manicures at a local nail shop. X 4. At a price of $10 the market is in 5. What is QS at $10? 6. What is QD at $10? 7. Suppose the price changes to $15. What is QS? 150 8. What is QD at $15? 9. What type of disequilibrium results at $15? 10. What will happen to price? 11. Suppose the price changes to $5. What is QS? 12. What is QD at $5? 13. What type of disequilibrium resultsat $5? 14. What will happen to price

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