Equilibrium Point Price 0 50 100150200250 Output a. What is the equilibrium price? b. How do you know this is the equilibrium price? c. If consumers demand a quantity of 100 at $4.00 per item and suppliers supply 200 of the item at $4.00. is a shortage or a surplus created? d. If consumers demand a quantity of 200 at $2.00 per item and suppliers supply 100 of the item at $2.00. is a shortage or a surplus created? e. Why don't suppliers want to supply more of the good at $2.00 per item? f. Why do suppliers want to supply more of the good at higher prices? 9. Why don't consumers demand as much of the item at higher prices