Explanation:
In the question above, the white line that downslope indicates the demand
Since we are given the quantity as 24 while the price is $5
The downslope of the white line says that the quantity of goods demanded is high and the price of that commodity will decrease and vice versa ( That's the law of demand)
The black slope is upward indicating the supply
where the price is $5 and the quantity supplied is 24
Therefore the upward slope indicates that the higher the price, the higher the quantity of goods that are being supplied, and vice versa ( That's the law of supply )
