12. Market equilibrium The following table shows the annual demand and supply in the market for shorts in New York City. Price Quantity Demanded Quantity Supplied ( Dollars per pair of shorts) (Pairs of shorts) (Pairs of shorts) 6 1,650 300 12 1,350 600 18 1,200 750 24 900 1,350 30 750 1,800 On the following graph, plot the demand for shorts using the blue point (circle symbol). Next, plot the supply of shorts using the orange point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for shorts.Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 36 O- 30 Demand 24 Supply PRICE (Dollars per pair of shorts) 18 Equilibrium 12 6 0 300 600 900 1200 1500 1800 QUANTITY (Pairs of shorts)