Problems 1–5 are based on the graph below. At a price of $1.50 per dozen, how many bagels are demanded per month?
At a price of $1.50 per dozen, how many bagels are supplied per month?
At a price of $3.00 per dozen, how many bagels are demanded per month?
At a price of $3.00 per dozen, how many bagels are supplied per month?
What is the equilibrium price of bagels? What is the equilibrium quantity per month?