Homework 4 (Due Tuesday, Sept. 4th in class)

Graphically illustrate the Demand and Supply curve using the data provided in one graph. Make sure to label the graph fully, identifying the equilibrium point, equilibrium Price and equilibrium Quantity.

 

Price       Quantity Demanded (Demand Curve)       Quantity Supplied (Supply Curve)

$5.00            120,000                                                      200,000

$4.00            160,000                                                      160,000

$3.00            180,000                                                      120,000

$2.00            220,000                                                      100,000