Econ class

Consider the supply and demand schedules for calzones at a local pizzeria. Use the information in the schedules to answer the five questions. Demand Price (P) $10 $9 $8 $7 $6 $5 $4 $3 $2 $1 Quantity (Q) 20 40 60 80 100 120 140 160 180 200 Supply Price (P) $1 $2 $3 $4 $5 $6 $7 $8 $9 $10 Quantity (Q) 20 30 40 50 60 701 80 90 100 110 What is the equilibrium price? equilibrium price: $ At what price is there a shortage of 60 calzones? price for shortage of 60 calzones: $At what price is there a shortage of 60 calzones? price for shortage of 60 calzones: $ At what price is there a surplus of 60 calzones? price for surplus of 60 calzones: $ At a price of $10, there is a surplus of how many calzones? surplus: calzones At a price of $7, there is a shortage of how many calzones? shortage: calzones