10. Market equilibrium The following table presents the monthly demand and supply in the market for laundry detergent in Denver. Price Quantity Demanded Quantity Supplied ( Dollars per gallon of laundry detergent) (Gallons of laundry detergent) (Gallons of laundry detergent) 4 2,000 200 8 1,600 600 12 1,200 800 16 800 1,200 20 400 1,800 On the following graph, plot the demand for laundry detergent using the blue point (circle symbol). Next, plot the supply of laundry detergent using the orange point (square symbol ). Finally, use the black paint (plus symbol) to indicate the equilibrium price and quantity in the market for laundry detergent. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 24 O 20 Demand 16 Supply PRICE (Dollars per gallon of laundry detergent) 12 -+ Equilibrium 8 4 0 0 400 800 1200 1600 2000 2400 QUANTITY (Gallons of laundry detergent)