Market Equilibrium

Understand how supply and demand interact to determine market prices and quantities.

Demand Shifters

Select Demand shifter

Average Income50000

Slide right to increase income. Slide left to decrease income.

Select Supply shifter

Quality of Technology (1 = bad, 10 = excellent)5

Slide right to increase the quality of apple farming technology. Slide left to reduce the quality of apple farming technology.

Supply (S) Demand (D)

The market starts at an equilibrium price of $7.40 and and equilibrium quantity of 6.70.