1. Find the Market Demand
Price
Sam
Erin
Mike
$30
20
5
10
$40
15
3
7
$50
10
0
5
$60
5
0
0
Market Demand
2. Find Market Supply
Price
Supplier 1
S2
S3
$30
0
4
11
$40
0
8
17
$50
10
12
18
$60
10
15
20
Market Supply
3. Create a Market supply and demand curve from the information below. Correctly label!
4. What is the equilibrium price and quantity?
5. If the population of the area suddenly increases, how would that affect the demand
curve? Graph the change and label D2.
6. If new technology comes out that allows the efficiency of workers to increase what
happens to supply? Graph the change and label S2.
7. What is your new equilibrium?
Price
Quantity demanded good
x
Quantity supplied good x
$10
0
8
$8
2
6
$6
4
4
$4
6
2
$2
8
0
8. Graph a supply and demand curve using the table above and be sure to label everything
correctly.
9. Shade the consumer surplus in Red and calculate it.
10. Shade the producer surplus in blue and calculate it.
11. The government institutes a price ceiling at $4.
a. Draw the price ceiling on your graph and label it PC
b. Identify the deadweight loss and shade it in purple.
c. How does the price ceiling affect CS and PS?
12. 3 other companies selling good x go out of business.
a. How does that affect supply?
b. How does that affect CS?
c. How does that affect PS?