Given the following conditions for the market of bubblegum based on the table below answer the
following questions:
Price Qd Qs
$1.60 9,000 5,000
$2.00 8,500 5,500
$2.40 8,000 6,400
$2.80 7,500 7,500
$3.20 7,000 9,000
$3.60 6,500 11,000
$4.00 6,000 15,000
A) Develop your demand and supply curve on the same graph.
B) Label the X and Y axis accordingly.
C) Find the price and quantity equilibrium.