contestada

1. Where was the equilibrium price and quantity before the shortage started?
2. Was this "shortage" due to an increase in quantity demanded? Or, did demand actually "shift" (remember your 5 demand
shifters)?
3. Do you think the equilibrium price and quantity changed? Or, as the video showed us, did things return to normal
(equilibrium) due to the market forces at work?
4. Did the price of toilet paper go up? Why or why not?

Respuesta :

jayilych4real

A shortage occurs when the demanded quantity of a good or service exceeds its supplied quantity and this causes an increase in price.

What is Equilibrium Price?

This refers to the place where the supply of goods meets demand and the supply and demand are balanced.

Hence, we can see that when there is a shortage, the thing that would happen to the equilibrium price and quantity would be a price rise until the shortage is removed and the quantity supplied equals the quantity demanded.

Please note that your question is incomplete, so a general overview was given to give you a better understanding of the concept.

Read more about equilibrium price here:

https://brainly.com/question/22569960

#SPJ1

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