9 Market equilibrium and disequilibrium The following graph shows the monthly demand and supply curves in the market for calendars Use the graph input tool to help you answer the following questions Enter an amount into the Price field to see the quantity demanded and quantity supplied at that price You will not be graded on any changes you make to this graph PRICE Dollars per calendar 100 88323922 00 Supply Demand 50 100 150 200 250 300 350 400 450 000 QUANTITY Calendars The equilibrium price in this market is s Graph Input Tool Price Dollars per calendar Shortage or Surplus 40 60 Market for Calendars 1 price 40 shortage or surplus 2 price 60 shortage or surplus Price Dollars per calendar Quantity Demanded Calendars per calendar and the equilibrium quantity is 30 500 Shortage or Surplus Amount Calendars Quantity Supplied Calendars 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 surple and whether this places upward or downward pressure on prices 210 Pressure calendars bought and sold per month