Question

1. see picture. please include equilibrium and excess demand.
2. based upon the graph you created, what price should bonds gym charge for memberships in order to reach equilibrium?
3. if bonds gym raises prices to your recommended price, how will this affect demand for their product?
Thank you! I need a %100

Answer 1

The equilibrium point is the point of equal demand and supply regarding the goods and services of the market. It is the point that states the equation, Demand =supply of the products that are in demand in the market.

Memberships price:

$0

600

0

$15

450

100

$30

300

200

$45

150

300

$60

0

400

These are the prices as per the data from the graph that keeps fluctuating and varying as per the graphical presentation.

If the prices of the bonds gym increase the demand will automatically be decreased for it and people will start preferring for the substitute it.  

To know more about the equilibrium and the effect of an increase in price, refer to the link below:

https://brainly.com/question/21773190

Answer 2

2. They should charge $30 to reach equilibrium.

3. The demand will decrease from about 680 to 400 units.