The graphs of the demand function and supply function for a certain product, are given below. Use these graphs to answer the questions. the window at p=400 on the positive p-axis, goes down and right, passes through the point (100,350), passes through the point (200,300), passes through the point (300,250), passes through the point (400,200), passes through the point (500,150), passes through the point (600,100), passes thyugh the point (700,50), and exits the window at q=800 on the positive q-axis.
(a) How many units q are demanded when the price p is $50 ?
q=
(b) How many units q are supplied when the price p is $50 ?
q=
(c) Will there be a market surplus (more supplied) or shortage (more demanded) when p=$50 ?
surplus
shortage
O shortage O surplus =b =b ............................ positive q-axis200 400 600 X (b) How many units q are supplied when the price p is $50? (a) How many units q are demanded when the price p is $50? the point (700, 50), and exits the window at q = 800 on th 500,150,passes through the point600,100passes though through the point(400,200),passes through the point point 200,300,passes through the point 300,250, passes right, passes through the point (100, 350), passes through the the window at p =400 on the positive p-axis,goes down and The qp-coordinate plane is given. The line labeled demand enters (c) Will there be a market surplus (more supplied) or shortage (more demanded) when p = $50? 200 400 600 400 200 Supply 800 600
