Q1.

Suppose you have the information shown in the table below about the quantity of a good supplied and demanded at various prices. Price ($) Quantity demanded Quantity supplied 50 O 180 40 20 140 30 40 100 20 60 60 10 80 20 a. Draw the demand and supply curves from the data provided. Instructions: Use the tools provided (D1 and S1) to plot the demand curve (5 points total) and the supply curve (5 points total). D1 Price ($) 70 65 - 60 - 55 50 45- 40- 35 30 - 25 20 - 15 10 - 5 20 40 60 80 100 120 140 160 180 200Price ($) Quantity demanded Quantity supplied (thousands of kg) (thousands of kg) 5 80 5 20 70 35 60 Now 50 50 65 40 80 30