Question 3: a) The market for mints show that the equilibrium price for mints is $( ) and the equilibrium quantity of mints is ( ).

Here are the solutions for the next questions.

Question 2

d) A change in quantity supplied refers to a movement along a stationary supply curve. This occurs solely due to a change in the price of the good itself. For example, if the price of mints increases, the quantity supplied increases, and this is represented as moving to a different point on the same supply curve. In contrast, a change in supply refers to a shift of the entire supply curve, either to the left (decrease in supply) or to the right (increase in supply). This shift is caused by changes in non-price determinants of supply, such as input costs, technology, or the number of sellers.

e) This differentiation is illustrated on a graph as follows: A change in quantity supplied is shown as a movement from one point to another on the same supply curve. For instance, if the price of mints goes from $0.20 to$0.25, the quantity supplied moves from 150 to 200 mints along the existing supply curve. A change in supply is illustrated by drawing a new supply curve. An increase in supply shifts the entire curve to the right, meaning that at every price, a greater quantity is supplied. A decrease in supply shifts the entire curve to the left, indicating that at every price, a smaller quantity is supplied.

Question 3

Assumption: The demand schedule was not provided in the problem. For the purpose of answering Question 3, I will use a hypothetical demand schedule that, when combined with the given supply schedule, results in an equilibrium price of $0.25 and an equilibrium quantity of 200 mints. This hypothetical demand schedule is:

Price	Quantity Demanded
$0.10	350
$0.15	300
$0.20	250
$0.25	200
$0.30	150
$0.35	100
$0.40	50

a) The market for mints shows that the equilibrium price for mints is $\boxed{0.25}$ and the equilibrium quantity of mints is $\boxed{200}$.

b) If the price on the market is $0.30, buyers would be willing to buy$150$mints and sellers would want to sell$250$mints. Under these conditions, there would be a$surplus$of$\boxed{100}$ mints.

c) Competitive market forces would tend to cause the price to $\boxed{decrease}$ to a price of $\boxed{0.25}$.

d) If the price on the market is $0.20, buyers would now be willing to buy$250$mints and sellers would want to sell$150$mints. Under these conditions there would be a$shortage$of$\boxed{100}$ mints.

e) Competitive market forces would tend to cause the price to $\boxed{increase}$ to a price of $\boxed{0.25}$.