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The following table shows the weekly demand and supply in the market for shoes in Miami.   Based on the preceding table, plot the demand for shoes on the following graph using the blue points (circle symbol). Next, plot the supply of shoes using the orange points (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for shoes

The following table shows the weekly demand and supply in the market for shoes in Miami.   Based on the preceding table, plot the demand for shoes on the following graph using the blue points (circle symbol). Next, plot the supply of shoes using the orange points (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for shoes

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The following table shows the weekly demand and supply in the market for shoes in Miami.
 
Based on the preceding table, plot the demand for shoes on the following graph using the blue points (circle symbol). Next, plot the supply of shoes using the orange points (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for shoes.
120 100 Demand 80 Supply 60 Equilibrium 40 20 200 400 600 800 1000 1200 QUANTITY (Pairs of shoes) PRICE (Dollars per pair of shoes)
Transcribed Image Text:120 100 Demand 80 Supply 60 Equilibrium 40 20 200 400 600 800 1000 1200 QUANTITY (Pairs of shoes) PRICE (Dollars per pair of shoes)
Price Quantity Demanded Quantity Supplied (Dollars per pair of shoes) (Pairs of shoes) (Pairs of shoes) 20 1,100 200 40 900 400 60 800 500 80 600 900 100 500 1,200
Transcribed Image Text:Price Quantity Demanded Quantity Supplied (Dollars per pair of shoes) (Pairs of shoes) (Pairs of shoes) 20 1,100 200 40 900 400 60 800 500 80 600 900 100 500 1,200
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