15. Market equilibrium The following table presents the weekly demand and supply in the market for sweatpants in Philadelphia. Price (Dollars per pair of sweatpants) 6 12 18 24 30 Quantity Demanded (Pairs of sweatpants) 1,650 1,350 1,200 900 750 Quantity Supplied (Pairs of sweatpants) 300 600 750 1,350 1,800 On the following graph, plot the demand for sweatpants using the blue point (circle symbol). Next, plot the supply of sweatpants using the orange point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for sweatpants. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.

ENGR.ECONOMIC ANALYSIS
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15. Market equilibrium The following table presents the weekly demand and supply in the market for sweatpants in Philadelphia. Price (Dollars per pair of sweatpants) 6 12 18 24 30 Quantity Demanded (Pairs of sweatpants) 1,650 1,350 1,200 900 750 Quantity Supplied (Pairs of sweatpants) 300 600 750 1,350 1,800 On the following graph, plot the demand for sweatpants using the blue point (circle symbol). Next, plot the supply of sweatpants using the orange point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for sweatpants. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.
 

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15. Market equilibrium.
The following table presents the weekly demand and supply in the market for sweatpants in Philadelphia.
Price
(Dollars per pair of sweatpants)
6
12
18
24
30
Quantity Demanded
(Pairs of sweatpants)
1,650
1,350
1,200
900
750
Quantity Supplied
(Pairs of sweatpants)
300
600
750
1,350
1,800
On the following graph, plot the demand for sweatpants using the blue point (circle symbol). Next, plot the supply of sweatpants using the orange
point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for sweatpants.
Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.
Transcribed Image Text:15. Market equilibrium. The following table presents the weekly demand and supply in the market for sweatpants in Philadelphia. Price (Dollars per pair of sweatpants) 6 12 18 24 30 Quantity Demanded (Pairs of sweatpants) 1,650 1,350 1,200 900 750 Quantity Supplied (Pairs of sweatpants) 300 600 750 1,350 1,800 On the following graph, plot the demand for sweatpants using the blue point (circle symbol). Next, plot the supply of sweatpants using the orange point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for sweatpants. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.
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