Just question 15

SUVen ubes not allow the price to change when demand increases? S 15. EQUILIBRIUM Assume the market for corn is depicted as in the table that appears below. a. Complete the table below. b. What market pressure occurs when quantity demanded exceeds quantity supplied? Explain. c. What market pressure occurs when quantity supplied exceeds quantity demanded? Explain. d. What is the equilibrium price? e. What could change the equilibrium price? f. At each price in the first column of the table, how much is sold? $12 Price 10 D 1 D 0 Cengage learning 2014 100 175 250 16. MARKET EQUILIBRIUM Determine whether each of the follow- ing statements is true, false, or uncertain. Then briefly explain each answer. a. In equilibrium, all sellers can find buyers. b. In equilibrium, there is no pressure on the market to pro- duce or consume more than is being sold. 400 Units per period Surplus/ Shortage Will Price Rise or Falla Price per Quantity Supplied (millions of bushels) 200 Quantity Demanded (millions of bushels) 320 Bushel ($) 1.80 230 2.00 300 270 270 2.20 300 230 2.40 330 200 2.60 350 180 2.80