| interactive activityA popular tradition when traveling to Hawaii is to receive a lei, a wreath of flowers to welcome guests. Although a lei can be made of flowers, leaves, nuts, or even candy and money, orchids remain the most popular flower used to create them. Suppose that supply and demand in the orchid lei market in Hawaii are as represented in the table below:
| Price ($/unit) | Quantity Demanded (thousands) | Quantity Supplied (thousands) |
|---|---|---|
| 5 | 24 | 8 |
| 10 | 20 | 12 |
| 15 | 16 | 16 |
| 20 | 12 | 20 |
| 25 | 8 | 24 |