Using the following schedule, define the equilibrium price and quantity. Plot the demand and supply curves and
Question:
Using the following schedule, define the equilibrium price and quantity. Plot the demand and supply curves and show the equilibrium price and quantity.
Quantity Quantity Price Demanded Supplied
$ 1 500 100 2 400 120 3 350 150 4 320 200 5 300 300 6 275 410 7 260 500 8 230 650 9 200 800 10 150 975
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