Test III.

Complete the following requirements

Quantity Supplied Price Quantity Demanded

3 ₱3.00 24 21
6 ₱6.00 20 Surplus 14
9 ₱9.00 16 7
12 ₱12.00 12 Equilibrium 0
15 ₱15.00 8 7
Shortage
18 ₱18.00 4 14

1 Make a supply schedule using scatter chart

2 Make a demand schedule using scatter chart
3 Make a separate schedule for both supply & demand schedule
4 Determine what is the equilibrium price and equilibrium quantity

Supply and Demand Schedule

₱20.00
₱18.00 ₱18.00
₱18.00
₱16.00 ₱15.00 ₱15.00

₱14.00
₱12.00
₱12.00
₱12.00
₱9.00 ₱9.00
Price

₱10.00
₱8.00
₱6.00 ₱6.00
₱6.00
₱4.00 ₱3.00 ₱3.00

₱2.00
₱0.00
0 5 10 15 20 25 30
Units

M
₱20.00
₱18.00
₱16.00
₱14.00
₱12.00
 M
₱20.00
₱18.00
₱16.00
₱14.00
₱12.00

Price
₱10.00
₱8.00
₱6.00
₱4.00
₱2.00
₱0.00
0 5
 Supply
₱20.00
₱18.00
12 Equilibrium Price 12 Equlibrium Quantity ₱16.00
₱14.00
₱12.00
₱9.00

Price
₱10.00
₱8.00
₱6.00
₱6.00
₱4.00 ₱3.00
₱2.00
₱0.00
0 5 10
Un

Demand S
₱20.00
₱18.00
₱18.00
₱16.00 ₱15.00

₱14.00
₱12.00
₱12.00
Price

₱10.00
₱8.00
₱6.00

₱3.00 ₱4.00
₱2.00
₱0.00
25 30 0 5 10

Market Equilibrium
₱20.00
₱18.00
₱16.00
₱14.00
₱12.00
₱12.00
 Market Equilibrium
₱20.00
₱18.00
₱16.00
₱14.00
₱12.00
₱12.00
₱10.00
₱8.00
₱6.00
₱4.00
₱2.00
₱0.00
0 5 10 15 20 25 30
Units
 Supply Schedule
₱18.00

₱15.00

₱12.00

₱9.00

₱6.00

₱3.00

5 10 15 20 25
Units

Demand Schedule

₱18.00

₱15.00

₱12.00

₱9.00

₱6.00

₱3.00

5 10 15 20 25 30

Units