Using the data in the table below, explain the equilibrium quantity and equilibrium price for a...

 

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Using the data in the table below, explain the equilibrium quantity and equilibrium price for a cellular telephone. Draw a graph to show equilibrium price and output. (10 points) Price (dollars per Quantity Quantity supplied demanded cellular phone) (thousands) (thousands) 50 55 60 100 100 80 80 50 60 20 100 40 Using the data in the table below, explain the equilibrium quantity and equilibrium price for a cellular telephone. Draw a graph to show equilibrium price and output. (10 points) Price (dollars per Quantity Quantity supplied demanded cellular phone) (thousands) (thousands) 50 55 60 100 100 80 80 50 60 20 100 40