The table below shows the demand and supply schedules for a product.
Required:
Plot the demand and supply curves and determine the equilibrium price and quantity
Answers
Scale: Vertical axis: 1cm rep. Ksh 10
Horizontal axis: 1 cm rep. 5 Kgs.
Pe = Ksh. 35 SS: Supply curve Pe: Equilibrium price e: Equilibrium point
Qe = 62 Kgs DD: Demand curve Qe: Equilibrium quantity
Wilfykil answered the question on
February 4, 2019 at 10:37
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