Attempts Keep the Highest / 1 12. Market equilibrium The following table shows the annual demand and supply in the market for shoes in Detroit. Price Quantity Demanded Quantity Supplied (Dollars per pair of shoes) ( Pairs of shoes) ( Pairs of shoes) 20 1,100 200 40 900 400 60 800 500 80 600 900 100 500 1,200 On the following graph, plot the demand for shoes using the blue point (circle symbol). Next, plot the supply of shoes using the orange point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for shoes Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 120 O 100 Demand O Supply PRICE (Dollars per pair of shoes) 80 Equilibrium 40 20 0 200 400 800 800 1000 1200 QUANTITY (Pairs of shoes)