Question: 1. (LO 4) a) Given the data in Table 2.11, draw the demand curve in Figure 2.15. Price Quantity Demanded 1 80 2 70 3

1. (LO 4)

a) Given the data in Table 2.11, draw the demand curve in Figure 2.15.

Price Quantity Demanded 1 80 2 70 3 60 4 50 5 40 6 30 TABLE 2.11 Price Quantity of copy paper 1

2 0 20 40 60 80 100 120 140

b) What is the equilibrium price and quantity?
Price: Quantity:

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