The following table presents the weekly demand and supply in the market for sweatpants in Dallas. Price Quantity Demanded (Dollars per pair of sweatpants) (Pairs of sweatpants) Quantity Supplied (Pairs of sweatpants) 6 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 sweatpants using the blue point (circle symbol). Next, plot the supply of sweatpants using the orange point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for sweatpants.

The following table presents the weekly demand and supply in the market for sweatpants in Dallas. Price Quantity Demanded (Dollars per pair of sweatpants) (Pairs of sweatpants) Quantity Supplied (Pairs of sweatpants) 6 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 sweatpants using the blue point (circle symbol). Next, plot the supply of sweatpants using the orange point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for sweatpants.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter4: Demand, Supply, And Market Equilibrium

Section: Chapter Questions

Problem 7P

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