On the following graph, plot the demand for laundry detergent using the blue point (circle symbol). Next, plot the supply of laundry detergent usingthe orange point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for laundrydetergent.Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.?PRICE (Dollars per gallon of laundry detergent)24201612B0012001600QUANTITY (Gallons of laundry detergent)400200080024006Demand-0-Supply+Equilibrium 6. Market equilibriumThe following table presents the weekly demand and supply in the market for laundry detergent in New York City.Price(Dollars per gallon of laundry detergent)48121620Quantity Demanded.(Gallons of laundry detergent)2,0001,6001,200800400Quantity Supplied(Gallons of laundry detergent)2006008001,2001,800On the following graph, plot the demand for laundry detergent using the blue point (circle symbol). Next, plot the supply of laundry detergent usingthe orange point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for laundrydetergent.6Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.?

The demand curve depicts the inverse relationship between price and quantity demanded, keeping other…

ng graph, plot the demand for laundry detergent using the blue point (circle symbol). Next, plot the supply of laundry detergent using the orange point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for laundry detergent. Note: Plot your points in the order in which you would