Equilibrium price Pe labelled on the vertical axis and Qe on
the horizontal axis at the intersection of the supply and demand
curves.
1 point:
Price line at a price Pc below the equilibrium price
1 point:
Correct indication of the shortage, which is the horizontal
distance between the quantity demanded and the quantity supplied at
the height of Pc
ASSIGNMENT:
1)
Draw a correctly labelled graph for oranges in equilibrium.
Show on
your graph how a hurricane that destroys large numbers of orange
groves in Florida will affect supply and demand if at all.

2)
Draw a correctly labelled graph for cups of coffee in equilibrium.
On
your graph, show the effects of a decrease in the price of coffee beans
on equilibrium price and equilibrium quantity in the market for cups
of coffee.
3)
Draw a correctly labelled graph of a housing market in equilibrium.
On your graph, illustrate an effective legal limit on rent.
Identify the
quantity of housing demanded, the quantity of housing supplied and
the size of the resulting surplus or shortage
4)
Reproduce the graph provided to answer the following questions;
a.

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- Spring '14
- DeborahK.Williamson
- Supply And Demand, producer, correctly labelled graph