What is the main focus of the video tutorial?

Equilibrium Price and Demand Concepts

Interactive Video
•
Business
•
9th - 10th Grade
•
Hard

Thomas White
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Calculating profit margins
Using algebra to find equilibrium
Understanding consumer behavior
Drawing supply and demand graphs
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the demand equation, what is the relationship between price and quantity demanded?
Direct relationship
Inverse relationship
No relationship
Exponential relationship
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a positive coefficient in the supply equation indicate?
As price increases, quantity supplied decreases
As price increases, quantity supplied increases
Price and quantity supplied are unrelated
Price and quantity supplied decrease together
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first step in solving for the equilibrium price?
Finding the average price
Subtracting supply from demand
Graphing the equations
Equating quantity demanded and quantity supplied
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you isolate the variable P in the equation 100 - 3P = 2P + 20?
Multiply both sides by 2
Divide both sides by 5
Add 3P to both sides
Subtract 20 from both sides
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the equilibrium price found in the video?
25
20
16
10
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
After finding the equilibrium price, what is the next step?
Graph the supply curve
Substitute the price into either equation
Calculate the total revenue
Find the average quantity
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