3. Market equilibrium and disequilibrium The following graph shows the monthly demand and supply curves in the market for jackets. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. '\\ Graph Input Tool (25 100 Market for Jackets 90 . Price 80 Supply (Dollars per jacket) '3 Quantity Quantity Supplied =2"; 70 Demanded 310 (Jackets) 190 .'1 (Jackets) 5 60 D. m E 50 6 g 40 g 30 Demand [I 1 20 + + I I 10 I I 0 50 100 150 200 250 300 350 400 450 500 QUANTITY (Jackets) The equilibrium price in this market is |:] perjacket, and the equilibrium quantity is |:] jackets per month. Complete the following table by indicating at each price whether there is a shortage or surplus in the market, the amount of that shortage or surplus, and whether this places upward or downward pressure on prices. Price Shortage or Surplus Amount (Dollars per jacket) Shortage or Surplus (Jackets) Pressure 40 _v |:] v so _v |:] v