Table 4-10
The following table shows the number of cases of water each seller is willing to sell at the prices listed.

-Refer to Table 4-10. If the four suppliers listed are the only suppliers in this market and the market demand schedule is:

The equilibrium price and quantity are

Question

Table 4-10
The following table shows the number of cases of water each seller is willing to sell at the prices listed.
 
-Refer to Table 4-10. If the four suppliers listed are the only suppliers in this market and the market demand schedule is:

The equilibrium price and quantity are

Quizplus · Accepted Answer

At a price of $3.00, Supplier A and Supplier C are willing to supply a total of 600 cases. This is the same quantity as the market demand, so there is equilibrium at $3.00 and 600 cases. None of the other options result in equilibrium.

Table 4-10 The Following Table Shows the Number of Cases of Water