Discuss the below:
Q: 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".