Pg. 71-72

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.

 

1. Donuts

Price	QS	QD
$1	2	10
$1.50	4	8
$2	6	6
$2.50	8	4
$3	10	2

1. 1. Where is equilibrium located? Price: ___________ Q: _______
   2. If you wanted to sell the donuts at $2.50, would there be a surplus or a shortage? How do you know?
   3. The Dearborn Police Department eats a lot of donuts. If this donut place charges $1 per donut, would the police department be happy? Explain.

 

1. Cell phone chargers

Price	QS	QD
$2	3	12
$4	6	10
$5	8	8
$6	10	7
$7	12	5

1. 1. Where is equilibrium located? Price: ___________ Q: _______
   2. If you wanted to sell cell phone chargers at $2, would there be a surplus or a shortage?
   3. Explain how you figured out your answer to 2b.



 

1. Playing Cards

Price	QS	QD
$0.50	3	12
$1	6	10
$2	8	8
$4	10	7
$5	12	5

1. 1. Where is equilibrium located? Price: ___________ Q: _______
   2. If you wanted to sell a deck of playing cards at $2, would there be a surplus or a shortage?

 

1. Packs of Index Cards

Price	QS	QD
$0.25	5	13
$0.50	7	8
$1.00	9	5
$1.25	11	2

 

1. 1. Where is equilibrium located (Estimate)? Price: ___________ Q: _______
   2. Students at Fordson need to make flashcards to study for finals. Target is selling index cards for $0.25 per pack.
      1. Will there will a shortage or a surplus?
      2. How will students feel about these inexpensive index cards?