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The market for a gas range has the following demand and supply schedule. Price (P-Thousand) P25 30 35 40 50 55 Quantity Demanded (Qd-Thousand)

The market for a gas range has the following demand and supply schedule. Price (P-Thousand) P25 30 35 40 50

The market for a gas range has the following demand and supply schedule. Price (P-Thousand) P25 30 35 40 50 55 Quantity Demanded (Qd-Thousand) 150 125 100 75 50 25 Quantity Supplied (Qs - Thousand) a. Graph the demand and supply curve. What are the equilibrium price and quantity in this market? 50 75 100 125 150 175

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