NO HAND WRITTEN ATTACHMENT, EXCEPT THE GRAPH, WILL BE GRADED Draw Demand curve and Supply curves on the same graph taking price on the vertical axis and quantity demanded and supplied on the horizontal axis. Determine equilibrium price and the equilibrium quantity demanded and supplied. Would price $7 create a shortage or surplus and for how many units? What is likely to happen to the demand of Ground Beef if income of the people increases? Please explain your answer. Price Per Pound Quantity Demanded in Pounds Quantity Supplied in Pounds $4 11 3 $5 10 4 $6 9 5 $7 8 6 $8 7 7 $9 6 8 $10 5 9 $11 4 10 Your answer Typed answers are easier for students to read than handwritten notes Subm
