Let's bring together that buyer and seller sides of the market to illustrate the complete market. The Market for fans (Table fan) Price (dollars per fan) Quantity Demanded (fans per month) Quantity Supplied (fans per month) 40 500 300 50 450 350 60 400 400 70 350 450 80 300 500 90 250 550 100 200 600 a. What is the equilibrium price and quantity of fans in the market? b. Explain if there was any surplus or shortage. c. Suppose that stores in this city are currently selling fans for $80 per fan. What is the condition of the market at this price and what adjustments will take place? Explain.