Illustrate what would drive the market toward equilibrium

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Reference no: EM1351545

Q. What are the key points of difference of the 3M Greptile Grip golf glove when compared to competitors products, such as FootJoy and Nike? Substitute products such as golf grips?

Q. The market for pizza has the following demand and supply schedules:

Price Quantity Demanded Quantity Supplied
$4 135 pizzas 26 pizzas
5 104 53
6 81 81
7 68 98
8 53 110
9 39 121

a. Graph the demand and supply curves. What is the equilibrium price and quantity in this market?

b. If the actual price in this market were above the equilibrium price, what would drive the market toward the equilibrium?

c. If the actual price in this market were below the equilibrium price, illustrate what would drive the market toward the equilibrium?

Reference no: EM1351545

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