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0 The accompanying table gives the annual US. demand and supply schedules for pickup trucks. Price of Trucks Quantity Demanded of Quantity Supplied of Tracks
0 The accompanying table gives the annual US. demand and supply schedules for pickup trucks. Price of Trucks Quantity Demanded of Quantity Supplied of Tracks Tracks (in millions) (in millions) 10,000 20 14 15 ,000 18 15 20,000 l6 16 25 ,000 l4 17 30,000 12 18 0 Plot the demand and supply curves using these schedules. Indicate the equilibrium price and quantity on your diagram. 0 Suppose the tires used on pickup trucks are found to be defective. What would you expect to happen in the market for pickup trucks? Show this on your diagram
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