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Illustration of supply and demand equilibrium shifts with labeled axes and intersecting lines.

Graph showing changes in supply and demand with shifts in curves on a coordinate plane.

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Show Answer Key & Explanations Step-by-step solution for: Economics Surplus Shortage Equilibrium Worksheet.pdf - Name: Date ...

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1. Equilibrium price: $6, Equilibrium quantity: 80 units
2. Shortage of 40 units
3. Surplus of 40 units
4. Price will rise to eliminate the shortage
5. Price will fall to eliminate the surplus
6. New equilibrium price: $7, New equilibrium quantity: 90 units
7. New equilibrium price: $5, New equilibrium quantity: 70 units
8. New equilibrium price: $5.50, New equilibrium quantity: 75 units
9. New equilibrium price: $6.50, New equilibrium quantity: 85 units

Parent Tip: Review the logic above to help your child master the concept of supply and demand graph worksheet.

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