Use the following to answer questions:
Figure: Market Failure 
-(Figure: Market Failure) In the figure Market Failure, the equilibrium price is _____ and the equilibrium quantity is _____ for a competitive market.
Definitions:
Straight-Line Method
A method of calculating the depreciation of an asset, which allocates an equal amount of depreciation each year over its useful life.
Residual Value
The estimated amount that an asset is expected to realize upon its disposal at the end of its useful life.
Interest Incurred
The cost of borrowing money, often expressed as a rate, that accumulates over the loan period.
Grading Land
the process of leveling or sloping land to prepare it for construction, landscaping, or other uses, often reflected in property development costs.
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