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4. The table presents the demand and supply schedules for bushels of corn. Price Quantity Quantity (dollars per demanded supplied bushel) (millions of (millions of
4. The table presents the demand and supply schedules for bushels of corn. Price Quantity Quantity (dollars per demanded supplied bushel) (millions of (millions of bushels per bushels per year) year) 4.20 30 42 4.10 34 40 4.00 38 38 3.90 42 36 3.80 46 34 3.70 50 32 O a) Plot the demand and supply curves in the figure below. 4.60 4.40 Price (dollars per bushel) 4.20 4.00 3.80 3.60 0 30 35 40 45 50 55 Quantity (millions of bushels per year)
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