Question: Make a graph using the following data, and then answer the questions. WHEAT SUPPLY AND DEMAND Given the buy cards and sell cards in the

Make a graph using the following data, and then answer the questions.

WHEAT SUPPLY AND DEMAND Given the buy cards and sell cards in the Market in Wheat Game, the following demand schedule and supply schedule are generated. Use this information to pilot a demand curve and supply curve on the graph below. And then answer the questions. 1. What is the equilibrium price 2. What prices would result in a surplus? 3. What prices would result in a shortage? Demand Schedule (Buy) Supply Schedule (Sell) Price Quantity Demanded Price Quantity Demanded $1 26 $1 0 22 2 2 3 18 3 4 4 14 4 6 5 12 5 8 10 6 10 8 7 14 6 8 18 9 4 9 22 10 2 10 26 Draw your graph on the next page\f

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