Price (Dollars per gallon of orange juice) 2 a 4 6 8 10 9 (aoni abue Quantity Demanded (Gallons of orange juice) 500 400 300 200 100 On the following graph, plot the demand for orange juice using the blue point (circle symbol). Next, plot the supply point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in tr Note: Plot your points in the order in which you would like them connected. Line segments will connect the points Quantity Supplied (Gallons of orange juice) 50 150 200 300 450 Demand -9

MACROECONOMICS
14th Edition
ISBN:9781337794985
Author:Baumol
Publisher:Baumol
Chapter4: Supply And Demand: An Initial Look
Section: Chapter Questions
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On the following graph, plot the demand for orange juice using the blue point (circle symbol). Next, plot the supply of orange juice using the orange
point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for orange juice.
Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.
?
12
10
PRICE (Dollars per gallon of orange juice)
0
100
200
300
400
QUANTITY (Gallons of orange juice)
500
Demand
-0
Supply
Equilibrium
Transcribed Image Text:On the following graph, plot the demand for orange juice using the blue point (circle symbol). Next, plot the supply of orange juice using the orange point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for orange juice. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. ? 12 10 PRICE (Dollars per gallon of orange juice) 0 100 200 300 400 QUANTITY (Gallons of orange juice) 500 Demand -0 Supply Equilibrium
The following table shows the annual demand and supply in the market for orange juice in San Diego.
Price
(Dollars per gallon of orange juice)
2
12
4
6
8
10
9
(axınl abuex
Quantity Demanded
(Gallons of orange juice)
500
400
300
200
100
On the following graph, plot the demand for orange juice using the blue point (circle symbol). Next, plot the supply of orange juice using the orange
point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for orange juice.
Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.
Quantity Supplied
(Gallons of orange juice)
50
150
200
300
450
Demand
--
Transcribed Image Text:The following table shows the annual demand and supply in the market for orange juice in San Diego. Price (Dollars per gallon of orange juice) 2 12 4 6 8 10 9 (axınl abuex Quantity Demanded (Gallons of orange juice) 500 400 300 200 100 On the following graph, plot the demand for orange juice using the blue point (circle symbol). Next, plot the supply of orange juice using the orange point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for orange juice. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. Quantity Supplied (Gallons of orange juice) 50 150 200 300 450 Demand --
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