Question

the following table shows the demand schedule for magic wands.
demand schedule for magic wands
price (dollars per magic wand) quantity (magic wands per month)
9 1
7 3
5 5
3 7
on the following graph, use the blue points (circle symbol) to plot the points from the demand schedule.
as the price falls from $9 to $7 per magic wand, the number of magic wands demanded reflects the

Explanation:

Step1: Identify data points

We have (9, 1), (7, 3), (5, 5), (3, 7) from the demand - schedule where the first number in each pair is price and the second is quantity.

Step2: Plot points on graph

On the given graph, for the point (9, 1), we find 9 on the price - axis and 1 on the quantity - axis and mark the blue point (circle symbol). Similarly, for (7, 3), we find 7 on the price - axis and 3 on the quantity - axis and mark the point, for (5, 5) we mark the point at price 5 and quantity 5, and for (3, 7) we mark the point at price 3 and quantity 7.
As the price falls from $9 to $7 per magic wand, the number of magic wands demanded increases from 1 to 3. This reflects the law of demand (the inverse relationship between price and quantity demanded).

Answer:

Points (9, 1), (7, 3), (5, 5), (3, 7) should be plotted on the graph. As the price falls from $9 to $7 per magic wand, the number of magic wands demanded increases; this reflects the law of demand.