Section 2: Equilibrium and Incentives
Now, you will graph a recommended course of action for Bond's Gym.
1. Create a graph that demonstrates equilibrium and excess demand. Make sure your graph
includes the same supply and demand curves that you just created. In addition, label the point
of equilibrium, draw a line showing the current price at Bond's ($10), and label the excess
demand on the graph. (10 points)

According to a study conducted in 2015, 18% of shoppers said that they prefer to buy generic instead of name-brand products. suppose that in a recent sample of 1500 shoppers, 315 stated that they prefer to buy generic instead of name-brand products. at a 5% significance level, can you conclude that the proportion of all shoppers who currently prefer to buy generic instead of name-brand products is higher than .18? use both the p-value and the critical-value approaches.