Question: Suppose the total demand for computers and the total supply of computers per month in the Calgary market are as shown below: a) Indicate whether

Suppose the total demand for computers and the total supply of computers per month in the Calgary market are as shown below:

a)Indicate whether there is a shortage or surplus at each of the following prices.

Computers

demanded

Price per

Computer

Computers

supplied

Surplus/Shortage

50

2,500

750

450

1,300

450

b)Plot the demand curve, supply curve and equilibrium point on the graph below.

Select which item you want to graph from the drop down menu at the top of the graph to manipulate that item.

Demand Curve

c)What is the equilibrium price?

Equilibrium price = $

0

d)What is the equilibrium quantity?

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