Refer to the given table. The equilibrium price in this market is: $$\begin{array} { | r | r | r | }
\hline \text { Price Per Unit } & \text { Columu A Units Per Year } & \text { Colum B Units Per Year } \
\hline \$ 20 & 100 & 40 \
\hline \$ 30 & 95 & 50 \
\hline \$ 40 & 80 & 60 \
\hline \$ 50 & 65 & 70 \
\hline \$ 60 & 50 & \mathbf { 8 0 } \
\hline
\end{array}$$
A)between $20 and $30.
B)between $30 and $40.
C)between $40 and $50.
D)nonexistent.

Question

Refer to the given table. The equilibrium price in this market is: $$\begin{array} { | r | r | r | } 
\hline \text { Price Per Unit } & \text { Columu A Units Per Year } & \text { Colum B Units Per Year } \
\hline \$ 20 & 100 & 40 \
\hline \$ 30 & 95 & 50 \
\hline \$ 40 & 80 & 60 \
\hline \$ 50 & 65 & 70 \
\hline \$ 60 & 50 & \mathbf { 8 0 } \
\hline
\end{array}$$  
A)between $20 and $30.
B)between $30 and $40.
C)between $40 and $50.
D)nonexistent.

Quizplus · Accepted Answer

The equilibrium price is where the quantity supplied equals the quantity demanded. At a price of $40, the quantity supplied (80 units) equals the quantity demanded (60 units), indicating a mistake in the question's data. However, based on the provided options and the typical understanding of equilibrium, the closest match where supply and demand could potentially equal (without exact figures to confirm) is between $40 and $50, as the trend suggests supply and demand are converging in this range.

Refer to the Given Table A)between $20 and $30