Directions: Plot the following hypothetical market demand and supply schedules for commodity X in a graphing paper. Quantity Demanded (Units) 150 300 350 600 Price (Peso) P 30.00 25.00 20.00 Quantity Supplied (Units) 900 800 700 600 400 200 15.00 10.00 5.00 800 1000 1. What is the equilibrium price? Equilibrium quantity?
Directions: Plot the following hypothetical market demand and supply schedules for commodity X in a graphing paper. Quantity Demanded (Units) 150 300 350 600 Price (Peso) P 30.00 25.00 20.00 Quantity Supplied (Units) 900 800 700 600 400 200 15.00 10.00 5.00 800 1000 1. What is the equilibrium price? Equilibrium quantity?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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
Transcribed Image Text:Directions: Plot the following hypothetical market demand and supply schedules for
commodity X in a graphing paper.
Quantity Demanded
(Units)
150
Quantity Supplied
(Units)
900
800
700
600
400
200
Price
(Peso)
P 30.00
300
350
600
800
1000
25.00
20.00
15.00
10.00
5.00
1. What is the equilibrium price? Equilibrium quantity?
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