
To create: Agraph showing

Explanation of Solution
From the given table, a graph for a person N’s sandwiches is presented. S and D represent the supply and
Now, the graph is plotted according to the table given in the question,
As the price will drop to $6.25, the quantity demanded will rise to 4.5, and the quantity supply will fall to 4.5. Therefore, the price at which quantity demanded equalizes quantity demanded is the equilibrium price which is $6.25 in this case.
Thus, the price of sandwich is $6.25.
Introduction: The demand curve visualizes the relationship between a product or service’s price in a graphical presentation that is demanded in a particular period of time. The slope of the supply curve shows a positive or upward curve that indicates supply increases when the price increases.
Chapter 7 Solutions
Economics Today and Tomorrow, Student Edition
Additional Business Textbook Solutions
Horngren's Accounting (12th Edition)
Gitman: Principl Manageri Finance_15 (15th Edition) (What's New in Finance)
Financial Accounting, Student Value Edition (5th Edition)
Financial Accounting: Tools for Business Decision Making, 8th Edition
Corporate Finance (4th Edition) (Pearson Series in Finance) - Standalone book
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