From the graphs shown below in the pictures.

What are the questions that can be check marked below?

Cartoon is selling 2 units to Gob.

Cartoon is selling 2 units to Fon.

Oiy wants to sell at $8 but didn't find a buyer.

Boom wants to sell at a price of $8 but didn't find a buyer.

Oiy didn't find any buyers when the price was $8 but would be willing to sell even if the price were $7

If the price dropped from $8 to $7, Oiy would be willing to buy a 2nd unit of the good.

If the price dropped from $8 to $7, Boom would be willing to buy a 2nd unit of the good.

If the price dropped from $8 to $7, Gob and Yam would each demand an additional unit of the good.

Oiy didn't find any buyers at price of $8 and would still be willing to sell even if the price dropped to $7.

There is an opportunity for mutual beneficial trade between Oiy and Gob at a price of $7.

There is an opportunity for mutual beneficial trade between Oiy and Yam at a price of $7.

In the real world, economic theory predicts markets will move to equilibrium where supple equals demand.

In this example, there is excess supply at a price of $8.

Excess supply means more units of the good are offered for sale than people are willing to buy at that price.

At a price of $8, there are buyers who didn't want to buy at $8 but would buy if the price were $7.

There are sellers who didn't find a buyer at $8 who would still be willing to sell at a price of $7.

There are buyers and sellers who make themselves better off if thery transacted at a price of $7.

We would predict that the price would fall from $8 to $7 because it in the personal self-interest of buyers and sellers to trade at prices lower than $8.

This process would continue until there are no longer any buyers and sellers will to trade at lower prices, i.e. we would be at the point where supply equals demand.

b csun portal x N myNorthrid x PeopleSoft X Supply and X Quiz: Supply X C A- At A Pric X PeopleSoft X > Letting pric X *Homework X > how do you x + X C @ https://canvas.csun.edu/courses/98452/quizzes/301010/take . . . CSUN Excess Demand exists if at a particular price the amount of a good demanded exceeds the amount supplied, i.e. people want to buy more of the good at a particular price than people want to sell at that price. . O Excess Supply exists if at a particular price the amount of a good demanded is less than the amount Account supplied. i.e. people want to sell more of the good at a particular price than people want to buy at that price. Dashboard Understanding how the forces of Excess Supply or Excess Demand move a market to equilibrium in the real world involves imagining how suppliers and demands (sellers and buyers) will act to make Courses themselves richer and happier when the price is above the equilibrium price (Excess Supply) or below the equilibrium price (Excess Demand). Calendar At a price of $8, Suppose Cartoon is the only seller able to find buyers. Eh 12 Ying Som Quantity Demanded Market Price Fon Nam Demand Inbox 10 History 10 40 10 48 Studio 6 Market Supply -Market Demand ? Help & Library Quantity Supplied Market Resources 10 20 30 40 K Cartoon is selling 2 units to Gob. o o S 66.F AQ1 81 ~ D ( ) 1:57 PM 9/12/2021> csun portal x N myNorthrid x PeopleSoft X Supply and X Quiz: Supply X C A- At A Pric X PeopleSoft X > Letting pric X *Homework X > how do you x + X C @ https://canvas.csun.edu/courses/98452/quizzes/301010/take . . . O Cartoon is selling 2 units to Fon. CSUN Oiy wants to sell at $8 but didn't find a buyer. O Boom wants to sell at a price of $8 but didn't find a buyer. O O Oiy didn't find any buyers when the price was $8 but would be willing to sell even if the price were $7 Account O If the price dropped from $8 to $7, Oiy would be willing to buy a 2nd unit of the good. Dashboard O If the price dropped from $8 to $7, Boom would be willing to buy a 2nd unit of the good. O If the price dropped from $8 to $7, Gob and Yam would each demand an additional unit of the good. Courses Oiy didn't find any buyers at price of $8 and would still be willing to sell even if the price dropped to $7. Calendar There is an opportunity for mutual beneficial trade between Oiy and Gob at a price of $7. Eh There is an opportunity for mutual beneficial trade between Oiy and Yam at a price of $7. Inbox In the real world, economic theory predicts markets will move to equilibrium where supple equals demand. In this example, there is excess supply at a price of $8. History Excess supply means more units of the good are offered for sale than people are willing to buy at that price. Studio At a price of $8, there are buyers who didn't want to buy at $8 but would buy if the price were $7. ? There are sellers who didn't find a buyer at $8 who would still be willing to sell at a price of $7. Help & Library There are buyers and sellers who make themselves better off if thery transacted at a price of $7. Resources We would predict that the price would fall from $8 to $7 because it in the personal self-interest of buyers and sellers to trade at prices lower than $8. O This process would continue until there are no longer any buyers and sellers will to trade at lower prices, i.e. we would be at the point where supply equals demand. K o o S 66.F AQ1 81 ~ D ( 4) 1:57 PM 9/12/2021