The table below shows the demand and supply for soybean in Anderson County, South Carolina. A) Graph the demand and supply curves below and indicate the equilibrium price and quantity. B) Based on the market equilibrium above, compute the total income of soybean growers in the region. Supply Price Demand 60 4 150 80 8 140 100 12 130 120 16 120 140 18 110
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The table below shows the demand and supply for soybean in Anderson County, South Carolina.
- A) Graph the demand and supply
curves below and indicate theequilibrium price and quantity. - B) Based on the
market equilibrium above, compute the total income of soybean growers in the region.
| Supply | Price | Demand |
|
60 |
4 | 150 |
| 80 | 8 | 140 |
| 100 | 12 | 130 |
| 120 | 16 | 120 |
| 140 | 18 | 110 |
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