AB 204 Unit 3 Assignment Supply and Demand Model and PPF AB 204 Unit 3 Assignment Supply and Demand Model a

AB 204 Unit 3 Assignment Supply and Demand
Model and PPF
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assignment-supply-and-demand-model-and-ppf
1) The table below indicates the total quantity supplied and demanded
of flashlights at different price levels.
Draw Supply and Demand Curves.
What are the equilibrium price and the equilibrium quantity?
Suppose the market price is $5. What problem would exist in the
market? Does it lead to surplus or shortage? How do you expect this
problem will affect the price? Indicate this on the supply and demand
graphs.
Assume the market price is currently $2. What problem would occur in
the market due to this price? Will it be shortage or surplus? What will
its effect on the price? Indicate this on the supply and demand graph.
2) Consider supply and demand schedules for Alaska Salmon indicated
in the following tables to answers questions from a –d below.