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6/18/19, 3)28 AMAplia: Student QuestionPage 1 of 3…04c10e0700e0000&ck=m_1560795170958_0AAA68EE016B13F0859CDF220000Points:0.6 / 1Close Explanation< Back to AssignmentAttempts: 0.6Do No Harm: 0.6 / 111. Problems and Applications Q11Suppose that the price of basketball tickets at your college is determined by market forces. Currently, the demand and supply schedules are asfollows:PriceQuantity DemandedQuantity Supplied(Dollars)(Tickets)(Tickets)412,00010,000810,00010,000128,00010,000167,00010,000206,00010,000Use the blue points (circle symbol) to graph the demand for basketball tickets. Then use the orange points (square symbol) to graph the supply oftickets. Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in this market.Explanation:Correct AnswerOriginal DemandSupplyOriginal EquilibriumNew DemandNew Equilibrium0246810121416182020181614121086420Price of Tickets (Dollars)Quantity of Tickets (Thousands)Your Answer
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