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Figure: Interpreting Market Equilibrium
-(Figure: Interpreting Market Equilibrium)If price were $10,then there would be:

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Use the following to answer questions 
Figure: Interpreting Market Equilibrium 
-(Figure: Interpreting Market Equilibrium)If price were $10,then there would be:

Quizplus · Accepted Answer

At a price of $10, quantity demanded is 8,000 units and quantity supplied is only 6,000 units, which creates a shortage of 2,000 units. This shortage will push the price up towards the equilibrium price.

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