Market Schedules for Milk: Price per tin Quantity demanded (tins) Quantity supplied (tins) 8k 25,000 7,500 10k 23,000 9,000 13k 20,000 11,500 15k 18,000 13,...

Question 1 Report

Market Schedules for Milk:

Price per tin Quantity demanded (tins) Quantity supplied (tins)
8k 25,000 7,500
10k 23,000 9,000
13k 20,000 11,500
15k 18,000 13,000
18k 15,000 15,000
20k 13,000 17,500
23k 10,000 21,000
25k 8,000 24,000

From the market demand and supply schedules for milk, we can say that equilibrium price and quantity are

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