Assighnment
SUPPLY and DEMAND CURVES
SURPLUS ans SHORTAGE
I.
|
Price
|
QTY D
|
QTY S
|
|
$ 1,000
|
2000
|
3500
|
|
$ 800
|
2500
|
2500
|
|
$ 600
|
3000
|
1500
|
A. Create a scatter plot of this data. Add a trendline and the equation of the line.
B. At a price of $1000, is there an excess quantity supplied, or an excess quantity demanded? How much is the excess supply, or surplus amount?
C. If the price is $600 is there an excess in supply, or demand? What is the excess supply? Is there are shortage or surplus? How do you know?
D. At what price and quantity combination is equilibrium?
E. What is the slope of the demand curve equation?
F. What is the slope of the supply curve equation?
II.
|
Price
|
QD
|
QS
|
|
$ 330
|
100
|
40
|
|
$ 340
|
90
|
60
|
|
$ 350
|
80
|
80
|
|
$ 360
|
70
|
100
|
|
$ 370
|
60
|
120
|
A. Create a scatter plot of this data. Add a trendline and the equation of the lines.
B. Identify the price and quantity combination for equilibrium.
C. Is there a shortage or s surplus at $350?
D. Is there a shortage or surplus at $365?
E. Is there a shortage or surplus at $345? How do you know?
III.
|
Price
|
QD
|
QS
|
|
$ 200
|
2000
|
1200
|
|
$ 300
|
1800
|
1400
|
|
$ 400
|
1600
|
1600
|
|
$ 500
|
1400
|
1800
|
|
$ 600
|
1200
|
2000
|
A. Create a scatter plot of this data. Add a trendline and the equation of the lines.
B. What is the market equilibrium? What is the price, and quantity combination for equilibrium?
C. At Price = $500, is there a shortage or surplus?
D. At Price = $200, is there a shortage or surplus?
IV.
|
Price
|
QD
|
QS
|
|
$ 12
|
96
|
104
|
|
$ 11
|
98
|
102
|
|
$ 10
|
100
|
100
|
|
$ 9
|
102
|
98
|
|
$ 8
|
104
|
96
|
A. Create a scatter plot of this data. Add a trendline and the equation of the lines.
B. What is the market equilibrium? What is the price, and quantity combination for equilibrium?
C. What is the slope of the demand curve?
D. What is the y-intercept of the supply curve?
E. At the Price of $11.50 is there a shortage or a surplus? How do you know?