3) Look at the price level(s) that are less than the equilibrium price. At these prices, which is greater: the quantity supplied or the quantity demanded? Is there excess supply or excess demand? Write down your answers to both questions.The $15 pair of jeans ex
4) Next, look at the price level(s) that are greater than the equilibrium price. At these prices, which is greater: the quantity supplied or the quantity demanded? Is there excess supply or excess demand? Write down your answers to both questions.