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2 years ago

Questions are on the picture, a-e.

Mathematics

1 answer:

iris [78.8K]2 years ago

5 0

The equilibrium price is $1.12.
If price is $0.98, there would be scarcity of Super Widgets.
When price is $0.98, quantity demanded is y.
When price is $0.98, quantity supplied is x.
When price is $1.22, there would be a surplus of Super Widgets.

<h3>What is equilibrium? </h3>

Equilibrium price is the price at which the quantity demanded equals the quantity supplied. The equilibrium price is $1.12.

Above equilibrium price, quantity supplied would exceed quantity demanded and there would be a surplus. When price is below equilibrium price, quantity supplied would be less quantity demanded and there would be a scarcity.

To learn more about equilibrium, please check: brainly.com/question/26075805

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