Question 4 of 20 Attempt 1 The table shows information on the conditions of demand and supply for designer purses, where the quantity of designer purses is measured in thousands Price Quantity demanded (thousands) 480 Quantity supplied (thousands) 410 $700 $900 440 440 Place the prices into the correct category $1100 390 510 $1300 310 640 Equilibrium Excess supply or surplus Excess demand or shortage $900 $1100 $700 Equilibrium Excess supply Excess demand or shortage or surplus $900 $1100 $700 Answer Bank $1300 Incorrect