1. The table contains information on the price per month and the monthly demand and supply of online music streaming subscriptions.

Price	Quantity demanded (thousands)	Quantity supplied (thousands)
$10.80 $10.80	440 440	290 290
$11.00 $11.00	380 380	310 310
$11.20 $11.20	340 340	340 340
$11.40 $11.40	290 290	410 410

What are the equilibrium price and quantity?

Equilibrium price: ____

Equilibrium quantity: __________ thousand subscriptions

2. Suppose the accompanying graph depicts a market for one pound bags of candy. Place the line labeledExcess Demand at a price that would generate an excess demand (shortage). Then, determine the size of the excess demand.

3. Suppose the accompanying graph depicts a market for one pound bags of candy. Place the point labeledExcess Supply to show a price that would generate an excess supply (surplus). Then, determine the size of the excess supply.

4. Use the point labelledE to identify the point whereQd=Qsin the market for pizza

What are the equilibrium price and quantity?

Price: $

Quantity:_______ pizzas

5. The accompanying graph contains the supply for knee braces.

a. At $8 a brace, how many will be supplied?

_________ million braces

b. Suppose that March becomes known as National Marathon Month, where every major city will host a marathon. Shift the supply curve to show the impact of new firms entering the market.

c. After news of National Marathon Month, at a price of $8, how many braces will be supplied?