The below table gives an annual demand and supply schedules for cars. 1. Plot the graph with demand and supply curves using this schedule.(Use table below)2. Show equilibrium price and equilibrium...

The below table gives an annual demand and supply schedules for cars.

1. Plot the graph with demand and supply curves using this schedule.
(Use table below)
2. Show equilibrium price and equilibrium quantity.
3. Calculate shortage at price $15. Calculate surplus at price $30.
4. If quantity supplied increases by 2 products, what is the new
equilibrium (don’t show this on a graph)

Kindly answer all parts

Extracted text:


Extracted text: Price of car Quantity of cars demanded Quantity of cars supplied $15 24 16 20 22 17 25 20 20 30 18 23 35 16 25