12. Market equilibrium The following table shows the monthly demand and supply in the market for shorts in New Vork City. Price Quantity Demanded Quantity Supplied (Dollars per pair of shorts) (Pairs of shorts) (Pairs of shorts) 1.650 300 12 1.350 600 18 1.200 750 24 900 1,350 30 750 1.800 On the following graph, plot the demand for sharts using the blue point (circie symbol). Next, plot the supply of shorts using the orange point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for shorts. Note: Plot your points in the order in which you would like them connected. Line segments vill connect the points automatically.

12. Market equilibrium The following table shows the monthly demand and supply in the market for shorts in New Vork City. Price Quantity Demanded Quantity Supplied (Dollars per pair of shorts) (Pairs of shorts) (Pairs of shorts) 1.650 300 12 1.350 600 18 1.200 750 24 900 1,350 30 750 1.800 On the following graph, plot the demand for sharts using the blue point (circie symbol). Next, plot the supply of shorts using the orange point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for shorts. Note: Plot your points in the order in which you would like them connected. Line segments vill connect the points automatically.

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter4: The Market Forces Of Supply And Demand

Section: Chapter Questions

Problem 8PA

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