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Equilibrium: Madison
Supply: Aryanna
Demand: Carla & T'Niya

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There has been less production of the Kindle Fire tablets (graph will shift to left).

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1.  500 new bookstores have opened within the last year (graph will shift right).

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Book producers believe that the prices of books will increase within the next year (graph will shift left)

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The government has added taxes on books (graph will shift left).

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If kids begin to read more books, they will increase their intelligence (graph will shift left).

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Consumers expected the price of a popular novel to increase within the next year (graph will shift right).

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Consumers expected the price of a popular novel to increase within the next year (graph will shift right).

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The demand of books are starting to increase, meaning the demand of bookmarks will also increase (graph will shift left).

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1. Due to the pandemic, many workers have been getting shorter hours, which resulted in pay cuts. This also means book sales have decreased (graph will shift left).

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During the summer, a lot of students purchased books for their summer reading assignments (graph shifts right).

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Since everything is online now most of the books we read are PDF's. Meaning that the supply of hard cover books are going down (graph will shift left).

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The equilibrium price (aka market clearing price) is when the demand curve and supply curve meet. When the quantity supplied exceeds the quantity demanded, a surplus will occur. When the quantity demanded exceeds the quantity supplied, it will result in a shortage.

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Market for the Book