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# Graphical Representation of Demand and Supply Curves

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Suppose the total demand for wheat and the total supply of wheat per month in the Kansas City grain market are as follows:

Thousands of Bushels Price per Bushel Thousands of bushels Surplus(+) or shortage(-)
85 \$3.40 72 ____
80 \$3.70 73 _____
75 4.00 75 _____
70 4.30 77 ___
65 4.60 79 _____
60 4.90 81 _____

Graph the demand for wheat and the supply of wheat. Be sure to label the axis of your graph correctly. Label equilbrium price "P" and equilbrium quantity "Q".

https://brainmass.com/statistics/statistical-figures/graphical-representation-of-demand-and-supply-curves-283128

#### Solution Preview

Please refer attached file for graph.

Solution:

Price per bushel Demand ('000 bushels) Supply ('000 bushels) Surplus (+) or Shortage(-)
(Supply-Demand)
3.4 ...

#### Solution Summary

Solution provides the graph for demand and supply curve for the wheat and determines equilibrium price and quantity.

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