Where do I draw the demand and supply line The graph below shows the market for mandarin oranges in Odin for the month of November (in thousands of kilos).Price32DSToolsD₂0120360600240480720Quantity per montho52Suppose that in December the demand of mandarin oranges increases by 240 while the supply increases by 60.a. Draw the new curves D2 and S2 in graph above.Note: Plot only the endpoints of the curve above and position those points on the edges of the graphing area.b. What will be the new equilibrium price and quantity?Equilibrium price: $Equilibrium quantity:

Step-by-Step SolutionWe are given the initial supply and demand curves for mandarin oranges in Odin…

Answered: The graph below shows the market for…

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter1: Introducing The Economic Way Of Thinking

Section1.A: Applying Graphics To Economics

Problem 2SQP

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