https://mru.org/courses/principles-economics-microeconomics/equilibrium-price-supply-demand-example

1. In the market shown, if the price is $15 will there be a surplus, a shortage, or is the market in equilibrium? What will happen to price in this case? (2 points)
2. What does the video say about how the value to buyers compares to the cost to sellers for every trade except the very last trade at equilibrium? (2 points)
3. What does the video say is maximized in a free market when the equilibrium price is reached? (2 points)