Using the schedules given plot the demand curve and the supply curve on the belo

Using the schedules given plot the demand curve and the supply curve on the below graph. Label the axes and indicate for each axis the units being used to measure price and quantity. Then answer the questions.
Price
Quantity demanded
(bushels of wheat)
Price
Quantity supplied
(bushels of wheat)
$4.20
125000
$4.20
230000
4.00
150000
4.00
220000
3.80
175000
3.80
210000
3.60
200000
3.60
200000
3.40
225000
3.40
190000
3.20
250000
3.20
180000
3.00
275000
3.00
170000
If the Federal government decided to support the price of wheat at $4.
Using the schedules given plot the demand curve and the supply curve on the below graph. Label the axes and indicate for each axis the units being used to measure price and quantity. Then answer the questions.
Price
Quantity demanded
(bushels of wheat)
Price
Quantity supplied
(bushels of wheat)
$4.20
125000
$4.20
230000
4.00
150000
4.00
220000
3.80
175000
3.80
210000
3.60
200000
3.60
200000
3.40
225000
3.40
190000
3.20
250000
3.20
180000
3.00
275000
3.00
170000
If the Federal government decided to support the price of wheat at $4.00 per bushel tell whether there would be a surplus or shortage and how much it would be. __________________________
Demonstrate your answer to part (c) on your graph being sure to label the quantity you designated as the shortage or surplus.
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