The table shows the demand and supply schedules for milkshakes milkshakes. Price (dollars dollars per milkshake milkshake
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Question:
The table shows the demand and supply schedules for milkshakes
milkshakes.
Price
(dollars
dollars
per milkshake
milkshake)
Quantity
demanded
Quantity supplied
(milkshakes
milkshakes perweek)
4
4
180
180
60
60
6
6
140
140
100
100
8
8
100
100
140
140
10
10
60
60
180
180
12
12
20
20
220
220
Draw a demand curve and a supply curve using the numbers in the table(only draw thelines, not thepoints). Label the curves.
Draw a point to show the equilibrium price and equilibrium quantity.
If the price is $ 4
$4 a milkshake
milkshake, there is a______ of
milkshakes
milkshakes, so the price of a milkshake
milkshake ______, the quantity demanded______ and the quantity supplied______. The market moves to equilibrium.
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