**demanded** at $200?

50

20

**supplied**?

90

60

Supply will probably go up.

Supply will probably go down.

Supply will probably went up.

Supply will probably went down.

A furniture store has 45 bunk beds for sale. The beds cost $300 each. At that price, 25 people want to buy one.

Is there a surplus or a shortage of bunk beds?

Surplus

Shortage

A store has 44 new hats for sale. The hat costs $20 each. At that price, 60 people want to buy one.

Is there a surplus or shortage of hats?

Surplus

Shortage

Look at the graph. Then answer the question below.

The graph shows supply and demand curves for lemonade in Lancaster. The point where the supply curve and the demand curve meet is called the **equilibrium point**. The price at that point is called the **equilibrium price**.

In the graph above, what is the equilibrium price for lemonade?

$2

$4

$5

$6

Look at the graph. Then answer the question below.

The graph shows supply and demand curves for milk in Manchester. The point where the supply curve and the demand curve meet is called the **equilibrium point**. The price at that point is called the **equilibrium price**.

In the graph above, what is the equilibrium price for milk?

$4

$5

$3

$2

Look at the table shown below.

Now, tell at $750 price, is there a surplus or shortage?

Surplus

Shortage

Look at the table given below.

Now tell at a price of $170, is there a surplus or shortage?

Surplus

Shortage