1. Equilibrium Graph
   1. Use the below supply and demand schedules to graph an equilibrium graph.

Price ($)	Quantity Supplied	Quantity Demanded
$10	100	300
$20	150	250
$30	200	200
$40	250	150
$50	300	100

• Label the original supply line as S1 and the original demand line as D1.
• Calculate the equilibrium price and quantity by finding the point where the supply and demand curves intersect. Label this point on your graph as "E1."
• Off to the side, write out the equilibrium price and quantity.
• Suppose there is an increase in consumer income. Show the effect on the demand curve by creating a new demand line. Label the new line D2.
• Suppose there is a decrease in production costs. Show the effect on the supply curve by creating a new supply line. Label the new line S2.
• Identify the new equilibrium point and label it as E2.
• Off to the side, write out the new equilibrium price and quantity.