The supply and demand for 15 pound turkeys at one grocery store is as follows:
Quantity Supplied Price Quantity Demanded
300 $10 0
250 $ 8 100
200 $ 6 200
150 $ 4 300
100 $ 2 400
1. Graph the Supply and Demand for Turkeys based on the data above. Use a graphing program such as the Kidzone: https://nces.ed.gov/nceskids/createagraph/ If you prefer to sketch a graph, scan it and upload it, go to https://incompetech.com/graphpaper/ for free graph paper.
2. What is the equilibrium price for turkeys at this store?
3. What is the equilibrium quantity of turkeys at this store?
4. Explain why a price of $10 is not the equilibrium.
5. Explain why a price of $2 is not the equilibrium.