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Construct a suitably labeled demand and supply diagram

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Reference no: EM133128314

Using the demand and supply figures in Table 1 below, construct a suitably labeled demand and supply diagram, and clearly identify the equilibrium price and quantity.

Market Price for a Packet of Oatcakes

Quantity Supplied

Quantity Demanded

90p

1,500

10,000

£1.00

3000

8,500

£1.50

4,500

7,000

£2.00

7,000

4,500

£2.50

8,500

3,000

£3.00

10,000

1,500

Reference no: EM133128314

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