The following table presents the annual demand and supply in the market for oat milk in Denver. PRICE (Dollars per galion of oat milk) Price Quantity Demanded (Dollars per gallon of oat milk) (Gallons of oat milk) 2 1,750 4 1,400 1,050 700 350 12 equilibrium On the following graph, plot the demand for oat milk using the blue point (circle symbol). Next, plot the supply of oat milk using the orange point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for oat milk. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 10 N 0 6 8 10 350 700 1050 1400 1750 QUANTITY (Gallons of oat milk) Quantity Supplied (Gallons of oat milk) 175 525 700 1,050 1,575 2100 6 Demand -O- Supply Equilibrium

The following table presents the annual demand and supply in the market for oat milk in Denver. PRICE (Dollars per galion of oat milk) Price Quantity Demanded (Dollars per gallon of oat milk) (Gallons of oat milk) 2 1,750 4 1,400 1,050 700 350 12 equilibrium On the following graph, plot the demand for oat milk using the blue point (circle symbol). Next, plot the supply of oat milk using the orange point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for oat milk. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 10 N 0 6 8 10 350 700 1050 1400 1750 QUANTITY (Gallons of oat milk) Quantity Supplied (Gallons of oat milk) 175 525 700 1,050 1,575 2100 6 Demand -O- Supply Equilibrium

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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