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Draw the demand and supply curves

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Reference no: EM13319779

Suppose that the price of basketball tickets at your college is determined by market forces. Currently, the demand and supply schedules are as follows:

Price($) Quantity Demanded Quantity Supplied

4 10,000 8,000

8 8,000 8,000

12 6,000 8,000

16 4,000 8,000

20 2,000 8,000

>20 0 8,000

Draw the demand and supply curves. What is unusual about this supply curve? Why might this be true? What are the equilibrium price and quantity of tickets?

Reference no: EM13319779

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