Supply, Demand and Elasticity Worksheet Generator
Schedules, graphs, equilibrium, shifts, elasticity and surplus. No AI, no credits.
Grades 8 – 12No account needed
Schedules and graphs, equilibrium from linear functions, shifts, price, income and cross elasticity, the total revenue test, and consumer and producer surplus. Every answer is computed by code. No AI, so it never uses a generation credit.
What students practice
- Economics
- Supply and demand
- Elasticity
Live sample sheet
No account needed to view and print.
Name: ____________________Date: ____________
Supply, Demand and Elasticity
1. Demand: Qd = 220 - 6P. Supply: Qs = 43 + 8P. Find the equilibrium price and quantity.
2. Explain how the following event affects the market: The price of a complement good increases.
3. Demand: Qd = 205 - 4P. Supply: Qs = 31 + 9P. Find the equilibrium price and quantity.
4. Explain how the following event affects the market: Consumer incomes increase (normal good).
5. Demand: Qd = 150 - 9P. Supply: Qs = 38 + 4P. Find the equilibrium price and quantity.
6. Explain how the following event affects the market: The price of a complement good increases.
7. Demand: Qd = 200 - 8P. Supply: Qs = 31 + 2P. Find the equilibrium price and quantity.
8. Explain how the following event affects the market: Consumer incomes increase (normal good).
9. Demand: Qd = 268 - 2P. Supply: Qs = 30 + 2P. Find the equilibrium price and quantity.
10. Explain how the following event affects the market: The price of a complement good increases.
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Answer Key — Supply, Demand and Elasticity
1. Demand: Qd = 220 - 6P. Supply: Qs = 43 + 8P. Find the equilibrium price and quantity.
Solution:
Set Qd = Qs: 220 - 6P = 43 + 8P
220 - 43 = 6P + 8P
177 = 14P
P = 177 / 14 = $12.64
Q = 220 - 6 × 12.64 = 144
Answer: P = $12.64, Q = 144
2. Explain how the following event affects the market: The price of a complement good increases.
Solution:
Event: The price of a complement good increases
Effect: demand decreases (shifts left)
Reason: The combined cost of using both goods rises.
Answer: demand decreases (shifts left)
3. Demand: Qd = 205 - 4P. Supply: Qs = 31 + 9P. Find the equilibrium price and quantity.
Solution:
Set Qd = Qs: 205 - 4P = 31 + 9P
205 - 31 = 4P + 9P
174 = 13P
P = 174 / 13 = $13.38
Q = 205 - 4 × 13.38 = 151
Answer: P = $13.38, Q = 151
4. Explain how the following event affects the market: Consumer incomes increase (normal good).
Solution:
Event: Consumer incomes increase (normal good)
Effect: demand increases (shifts right)
Reason: Higher incomes allow more purchases at each price.
Answer: demand increases (shifts right)
5. Demand: Qd = 150 - 9P. Supply: Qs = 38 + 4P. Find the equilibrium price and quantity.
Solution:
Set Qd = Qs: 150 - 9P = 38 + 4P
150 - 38 = 9P + 4P
112 = 13P
P = 112 / 13 = $8.62
Q = 150 - 9 × 8.62 = 72
Answer: P = $8.62, Q = 72
6. Explain how the following event affects the market: The price of a complement good increases.
Solution:
Event: The price of a complement good increases
Effect: demand decreases (shifts left)
Reason: The combined cost of using both goods rises.
Answer: demand decreases (shifts left)
7. Demand: Qd = 200 - 8P. Supply: Qs = 31 + 2P. Find the equilibrium price and quantity.
Solution:
Set Qd = Qs: 200 - 8P = 31 + 2P
200 - 31 = 8P + 2P
169 = 10P
P = 169 / 10 = $16.90
Q = 200 - 8 × 16.90 = 65
Answer: P = $16.90, Q = 65
8. Explain how the following event affects the market: Consumer incomes increase (normal good).
Solution:
Event: Consumer incomes increase (normal good)
Effect: demand increases (shifts right)
Reason: Higher incomes allow more purchases at each price.
Answer: demand increases (shifts right)
9. Demand: Qd = 268 - 2P. Supply: Qs = 30 + 2P. Find the equilibrium price and quantity.
Solution:
Set Qd = Qs: 268 - 2P = 30 + 2P
268 - 30 = 2P + 2P
238 = 4P
P = 238 / 4 = $59.50
Q = 268 - 2 × 59.50 = 149
Answer: P = $59.50, Q = 149
10. Explain how the following event affects the market: The price of a complement good increases.
Solution:
Event: The price of a complement good increases
Effect: demand decreases (shifts left)
Reason: The combined cost of using both goods rises.
Answer: demand decreases (shifts left)
Answers computed by code. No AI, no credits.
Assumptions and Conventions
Assumptions:
- Equilibrium: Qd = Qs, solve for P.
- PED = (% change in Qd) / (% change in P).
- |PED| > 1 = elastic, |PED| < 1 = inelastic, |PED| = 1 = unit elastic.
- Consumer surplus = 0.5 × (max price - eq price) × eq quantity.
- Producer surplus = 0.5 × (eq price - min price) × eq quantity.
Conventions:
- Linear demand: Qd = a - bP.
- Linear supply: Qs = c + dP.
- All monetary values in USD.
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Frequently asked questions
Do students need an account to use the Supply, Demand and Elasticity?
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Can I print the Supply, Demand and Elasticity without signing up?
Yes. This tool computes answers by code, so you can generate, preview and print worksheet without an account. A free account adds saving and student links.
How are the answers computed?
Every answer is computed by code and verified by a second independent method. No AI is used.
What grades is the Supply, Demand and Elasticity for?
This tool fits Grades 8 – 12.
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Sample output, computed by code — change the options and Generate to make your own
Name: ____________________Date: ____________
Supply, Demand and Elasticity
1. Demand: Qd = 296 - 4P. Supply: Qs = 24 + 9P. Find the equilibrium price and quantity.
2. Explain how the following event affects the market: The cost of raw materials increases.
3. Demand: Qd = 169 - 2P. Supply: Qs = 39 + 10P. Find the equilibrium price and quantity.
4. Explain how the following event affects the market: A new technology reduces production costs.
5. Demand: Qd = 192 - 10P. Supply: Qs = 45 + 10P. Find the equilibrium price and quantity.
6. Explain how the following event affects the market: The cost of raw materials increases.
7. Demand: Qd = 150 - 6P. Supply: Qs = 15 + 8P. Find the equilibrium price and quantity.
8. Explain how the following event affects the market: A subsidy is granted to producers.
9. Demand: Qd = 229 - 9P. Supply: Qs = 40 + 7P. Find the equilibrium price and quantity.
10. Explain how the following event affects the market: Consumer incomes increase (normal good).
Made with TeachSpark
Answer Key — Supply, Demand and Elasticity
1. Demand: Qd = 296 - 4P. Supply: Qs = 24 + 9P. Find the equilibrium price and quantity.
Solution:
Set Qd = Qs: 296 - 4P = 24 + 9P
296 - 24 = 4P + 9P
272 = 13P
P = 272 / 13 = $20.92
Q = 296 - 4 × 20.92 = 212
Answer: P = $20.92, Q = 212
2. Explain how the following event affects the market: The cost of raw materials increases.
Solution:
Event: The cost of raw materials increases
Effect: supply decreases (shifts left)
Reason: Higher production costs reduce supply at each price.
Answer: supply decreases (shifts left)
3. Demand: Qd = 169 - 2P. Supply: Qs = 39 + 10P. Find the equilibrium price and quantity.
Solution:
Set Qd = Qs: 169 - 2P = 39 + 10P
169 - 39 = 2P + 10P
130 = 12P
P = 130 / 12 = $10.83
Q = 169 - 2 × 10.83 = 147
Answer: P = $10.83, Q = 147
4. Explain how the following event affects the market: A new technology reduces production costs.
Solution:
Event: A new technology reduces production costs
Effect: supply increases (shifts right)
Reason: Lower costs allow more output at each price.
Answer: supply increases (shifts right)
5. Demand: Qd = 192 - 10P. Supply: Qs = 45 + 10P. Find the equilibrium price and quantity.
Solution:
Set Qd = Qs: 192 - 10P = 45 + 10P
192 - 45 = 10P + 10P
147 = 20P
P = 147 / 20 = $7.35
Q = 192 - 10 × 7.35 = 119
Answer: P = $7.35, Q = 119
6. Explain how the following event affects the market: The cost of raw materials increases.
Solution:
Event: The cost of raw materials increases
Effect: supply decreases (shifts left)
Reason: Higher production costs reduce supply at each price.
Answer: supply decreases (shifts left)
7. Demand: Qd = 150 - 6P. Supply: Qs = 15 + 8P. Find the equilibrium price and quantity.
Solution:
Set Qd = Qs: 150 - 6P = 15 + 8P
150 - 15 = 6P + 8P
135 = 14P
P = 135 / 14 = $9.64
Q = 150 - 6 × 9.64 = 92
Answer: P = $9.64, Q = 92
8. Explain how the following event affects the market: A subsidy is granted to producers.
Solution:
Event: A subsidy is granted to producers
Effect: supply increases (shifts right)
Reason: The subsidy lowers the effective cost of production.
Answer: supply increases (shifts right)
9. Demand: Qd = 229 - 9P. Supply: Qs = 40 + 7P. Find the equilibrium price and quantity.
Solution:
Set Qd = Qs: 229 - 9P = 40 + 7P
229 - 40 = 9P + 7P
189 = 16P
P = 189 / 16 = $11.81
Q = 229 - 9 × 11.81 = 123
Answer: P = $11.81, Q = 123
10. Explain how the following event affects the market: Consumer incomes increase (normal good).
Solution:
Event: Consumer incomes increase (normal good)
Effect: demand increases (shifts right)
Reason: Higher incomes allow more purchases at each price.
Answer: demand increases (shifts right)
Answers computed by code. No AI, no credits.
Assumptions and Conventions
Assumptions:
- Equilibrium: Qd = Qs, solve for P.
- PED = (% change in Qd) / (% change in P).
- |PED| > 1 = elastic, |PED| < 1 = inelastic, |PED| = 1 = unit elastic.
- Consumer surplus = 0.5 × (max price - eq price) × eq quantity.
- Producer surplus = 0.5 × (eq price - min price) × eq quantity.
Conventions:
- Linear demand: Qd = a - bP.
- Linear supply: Qs = c + dP.
- All monetary values in USD.
Made with TeachSpark
Supply, Demand and Elasticity - General business - Equilibrium and shifts
Equilibrium, shifts, price/income/cross elasticity, consumer and producer surplus. No AI, no credits.