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The image shows a graph of the market for jackets, illustrating supply and demand curves. Below the graph, there is a table to be filled out, and two specific blanks asking for the equilibrium price and quantity. Here's how to solve the problem:

### Step 1: Identify Equilibrium Price and Quantity
The equilibrium is where the supply and demand curves intersect. This point corresponds to:
- **Equilibrium Price:** 24 dollars per jacket (as shown by the intersection point and given in the input tool).
- **Equilibrium Quantity:** 300 jackets per month (based on the graph).

So, the equilibrium values are:
- Equilibrium Price = $24 per jacket
- Equilibrium Quantity = 300 jackets per month

### Step 2: Fill in the Table

1. **Price = 48 dollars per jacket:**
   - **Shortage or Surplus:** At this price, the quantity supplied is greater than the quantity demanded (as the price is above equilibrium). This creates a **surplus**.
   - **Shortage or Surplus Amount:** Quantity supplied (400) - Quantity demanded (100) = **300 jackets**.
   - **Pressure on Prices:** Surplus creates a **downward pressure** on prices.

2. **Price = 32 dollars per jacket:**
   - **Shortage or Surplus:** At this price, the quantity demanded is greater than the quantity supplied (as the price is below equilibrium). This creates a **shortage**.
   - **Shortage or Surplus Amount:** Quantity demanded (400) - Quantity supplied (200) = **200 jackets**.
   - **Pressure on Prices:** Shortage creates an **upward pressure** on prices.

### Summary:
- **Equilibrium Price:** $24 per jacket
- **Equilibrium Quantity:** 300 jackets per month

### Table Entries:
| Price (Dollars per jacket) | Shortage or Surplus | Amount (Jackets) | Pressure  |
|----------------------------|---------------------|------------------|-----------|
| 48                         | Surplus             | 300              | Downward  |
| 32                         | Shortage            | 200              | Upward    |

Would you like more details on this solution or have any further questions?

### Follow-up Questions:
1. What factors can cause a shift in the demand or supply curve?
2. How do price ceilings or floors affect market equilibrium?
3. Can equilibrium be reached in a non-competitive market?
4. What are the implications of a prolonged surplus or shortage in the market?
5. How can government intervention correct market imbalances?

### Tip:
Understanding the relationship between supply, demand, and price can help predict how external factors influence market equilibrium.

The image shows a graph of the market for jackets, illustrating supply and demand curves. Below the graph, there is a table to be filled out, and two specific blanks asking for the equilibrium price and quantity. Here's how to solve the problem.

Learn how to determine the equilibrium price and quantity in the market for jackets using supply and demand curves. This example also covers calculating shortages and surpluses at different prices and understanding the resulting market pressure. Suitable for students in Grades 9-12.

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