Pricing Systems Market Equilibrium through Supply and Demand - Identifying the Equilibrium Price- Label the Demand Curve (D) Label the Supply Curve (S) Label the Equilibrium Price (Market Price) Equilibrium Price What is the Equilibrium Price? What is the Equilibrium Quantity? 30 40 50 60 70 - Price Floors - When is a price floor commonly used? What is the quantity supplied (QS) at the Price Floors price floor? What is the quantity demanded (QD) at the price floor? Is there a shortage (QS QD) with this price floor? How much? of 10 20 30 40 50 60 70 90 Price Ceilings 175 When is a price ceiling commonly used? 60 Price Ceilings What is the quantity supplied (QS) at the 15 price ceiling? . What is the quantity demanded (QD) at the 30 price ceiling? Is there a shortage (QS QD) with this price ceiling? How much? 10 20 30 40 50 60 70