The following graph shows the market for pizzas in Miami, where there are over 1,000 pizza restaurants at any given moment. Suppose pizza sellers expect that tomorrow the price of pizza will be significantly lower than today's price. Show the effect of this change on the market for pizzas by shifting one or both of the curves on the following graph, holding all else constant. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther.

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Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.