Demand and Supply 2

What event might cause this shift?

Complements and Substitutes shift

The costs of inputs shift

Based on the graph, what has happened to price?

What has happened to the quantity of milk shown in this graph?

Number of firms shifts

What is the excess supply amount shown on this graph?

Which point represents equilibrium?

What is the new equilibrium quantity?

Government policies shift

What economic condition in which the government places a limit on max price shown on the graph

This graph represents

This graph represents which economic condition the government places and limits low prices

What type of shift is represented in the graph

Income shifts

What is the equilibrium price?

Expectation of future prices shifts

This graph represents which economic condition the government places and limits prices

What is the equilibrium quantity?

This price moves slowly and prevents the equilibrium from quickly resetting