Need help graphing this I have no clue how to do it
1 answer:
Answer:
The price in equilibrium is $32
Coordinates of point of intersection of the two lines is Price ≈ $42 and quantity ≈ 2.6.
The price, y-coordinate value increases slightly while the number x coordinate value decrease slightly
Step-by-step explanation:
Here we have the graph attached
From the graph, the price in equilibrium is the price at the point of intersection of the number in supply and number in demand curves which is at Price ≈ $32 and quantity ≈ 2.65
The coordinates of the point where the two lines intersect are;
Price ≈ $42 and quantity ≈ 2.6.
The y coordinates of the point of intersection of the original graph are slightly lower than those of the intersection of the sketched straight lines while the x coordinates of the point of intersection of the original graph are slightly higher than those of the intersection of the sketched straight lines.
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