name consumer economics supply and demand ?· name _____ consumer economics supply and demand...

Download Name Consumer Economics Supply and Demand ?· Name _____ Consumer Economics Supply and Demand Worksheet…

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  • Name _______________________

    Consumer Economics

    Supply and Demand Worksheet

    LT Electronics manufactures Blu-Ray Disc players. They determine that their supply schedule (what they are

    able to produce, based on price) for the upcoming holiday season is as follows:

    Price of Blu-Ray Disc players supplied:

    Price per player Quantity produced

    $ 250 800

    $ 200 700

    $ 150 600

    $ 100 500

    $ 50 400

    They determine that their demand schedule (what customers will buy) during the upcoming holiday season is

    as follows:

    Price per player Quantity demanded

    $ 250 200

    $ 200 400

    $ 150 600

    $ 100 800

    $ 50 1,000

    Looking at both the schedules of supply and demand, as well as the graph of the demand and supply curve for

    LT Blu-Ray players, what is the equilibrium price of Blu-Ray Disc players and the equilibrium quantity of

    players demanded and supplied at that price?

    $ 300

    $ 250

    Price $ 200

    $ 150

    $ 100

    $ 50

    0 200 400 600 800 1000 1200

    Quantity

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