The Table Below Shows the Quantity Demanded and Quantity Supplied

question 11

Essay

The table below shows the quantity demanded and quantity supplied of DVDs at each price level. $$\begin{array} { | r | r | r | c | } \hline \begin{array} { c } \text { Price } \\\text { (dollars) }\end{array} & \begin{array} { c } \text { Quantity } \\\text { Demanded }\end{array} & \begin{array} { c } \text { Quantity } \\\text { Supplied }\end{array} & \begin{array} { c } \text { Surplus (+) } \\\text { Shortage (-) }\end{array} \\\hline 20.00 & 10 & 500 & \\\hline 18.00 & 25 & 400 & \\\hline 16.00 & 45 & 250 & \\\hline 14.00 & 80 & 200 & \\\hline 12.00 & 140 & 140 & \\\hline 10.00 & 200 & 80 & \\\hline 8.00 & 300 & 40 & \\\hline 6.00 & 450 & 5 & \\\hline\end{array}$$ (a) Fill out the column entitled Surplus/Shortage.
(b) What are the equilibrium price and equilibrium quantity in this market?
(c) Suppose that consumers' taste changed in favor of DVDs due to their high quality.What happens at the original equilibrium price level calculated in Part (b)?
(d) Suppose that advances in technology reduced the production cost of DVD players.What happens at the original equilibrium price level calculated in Part (b)?

Understand the causes and treatments for infertility.

Grasp the health habits that influence aging and reproductive health, including the effects of alcohol and obesity.

Be aware of demographic trends related to obesity in middle-aged adults.

Acknowledge the importance of physical activity in maintaining health during middle age.

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Definitions:

Corporation

A legal entity separate from its owners, with its own rights and liabilities, allowing it to own assets, incur debts, and enter into contracts.

Par Value Stock

Capital stock that has been assigned a value per share in the corporate charter.

No-Par Value Stock

Shares issued without a nominal or face value, where the market value of the shares is determined by the price investors are willing to pay.

Stated Value Stock

Stock issued with a nominal value assigned by the board of directors, which is not based on market value but affects the accounting equity.