Equilibrium Practice #2
Title notebook p. 71-72, “Equilibrium Practice #2” and divide the page into four boxes (there will be four sets of questions).
For each question, graph the information and answer the questions.
- Donuts
Price | QS | QD |
$1 | 2 | 10 |
$1.50 | 4 | 8 |
$2 | 6 | 6 |
$2.50 | 8 | 4 |
$3 | 10 | 2 |
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- Where is equilibrium located? Price: ___________ Q: _______
- If you wanted to sell the donuts at $2.50, would there be a surplus or a shortage? How do you know?
- The Dearborn Police Department eats a lot of donuts. If this donut place charges $1 per donut, would the police department be happy? Explain.
- Cell phone chargers
Price | QS | QD |
$2 | 3 | 12 |
$4 | 6 | 10 |
$5 | 8 | 8 |
$6 | 10 | 7 |
$7 | 12 | 5 |
-
- Where is equilibrium located? Price: ___________ Q: _______
- If you wanted to sell cell phone chargers at $2, would there be a surplus or a shortage?
- Explain how you figured out your answer to 2b.
- Playing Cards
Price | QS | QD |
$0.50 | 3 | 12 |
$1 | 6 | 10 |
$2 | 8 | 8 |
$4 | 10 | 7 |
$5 | 12 | 5 |
-
- Where is equilibrium located? Price: ___________ Q: _______
- If you wanted to sell a deck of playing cards at $2, would there be a surplus or a shortage?
- Packs of Index Cards
Price | QS | QD |
$0.25 | 5 | 13 |
$0.50 | 7 | 8 |
$1.00 | 9 | 5 |
$1.25 | 11 | 2 |
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- Where is equilibrium located (Estimate)? Price: ___________ Q: _______
- Students at Fordson need to make flashcards to study for finals. Target is selling index cards for $0.25 per pack.
- Will there will a shortage or a surplus?
- How will students feel about these inexpensive index cards?