< 1 2 3 4 5 At a market price of $0.25, a will tend to of the price until it reaches a price of units exists. Buyers Price per Apple $2.00 $1.75 $1.50 $1.25 $1.00 $0.75 $0.50 $0.25 y Supply Demand 0 1 2 3 4 5 6 7 At any price below $1.00 per apple, the market is out- of-equilibrium. Quantity of Apples (in thousands of bushels) shortage; 1,000; lower; $0.50
