Instruction: Graph the given table below and explain how the Law of Demand and law of supply works. Table 2. Table 1.Demand Schedule for Chicken Supply Schedule for Tomatoes Quantity Supplied price per Quantity Demanded Price per unit [in pesos] (in kg.), hundreds unit[ in pesos] (in kg] 160 20 15 500 150 30 20 600 140 40 25 700 130 50 30 800 120 60 35 900 110 80 40 1000 90 90 45 1100 80 100 50 1200 55 1300 60 1400
Instruction: Graph the given table below and explain how the Law of Demand and law of supply works. Table 2. Table 1.Demand Schedule for Chicken Supply Schedule for Tomatoes Quantity Supplied price per Quantity Demanded Price per unit [in pesos] (in kg.), hundreds unit[ in pesos] (in kg] 160 20 15 500 150 30 20 600 140 40 25 700 130 50 30 800 120 60 35 900 110 80 40 1000 90 90 45 1100 80 100 50 1200 55 1300 60 1400
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 6QR
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Question
![Instruction: Graph the given table below and explain how the Law of Demand
and law of supply works.
Table 2.
Table 1.Demand Schedule for Chicken Supply Schedule for Tomatoes
price per
Quantity Demanded
Price per
Quantity Supplied
unit[ in pesos] [in kg]
15
unit [in pesos] (in kg.), hundreds
160
20
500
150
30
20
600
140
40
25
700
130
50
30
800
120
60
35
900
110
80
40
1000
90
90
45
1100
80
100
50
1200
55
1300
60
1400](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F039748a8-fdc2-41cb-b427-8911132eb76a%2F0ab6b8ec-ce85-404e-b162-6e5989f4c8c2%2Fkmqjmgmb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Instruction: Graph the given table below and explain how the Law of Demand
and law of supply works.
Table 2.
Table 1.Demand Schedule for Chicken Supply Schedule for Tomatoes
price per
Quantity Demanded
Price per
Quantity Supplied
unit[ in pesos] [in kg]
15
unit [in pesos] (in kg.), hundreds
160
20
500
150
30
20
600
140
40
25
700
130
50
30
800
120
60
35
900
110
80
40
1000
90
90
45
1100
80
100
50
1200
55
1300
60
1400
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