Use the following schedule of data for for the following question
$$\begin{array} { | c | c | c | }
\hline \begin{array} { c }
\text { Price } \
\text { Dollars/Widget) }
\end{array} & \begin{array} { c }
\text { Quartity Dernarded } \
\text { Hundreds) }
\end{array} & \begin{array} { c }
\text { Quartity Bupplied } \
\text { Hurdreds) }
\end{array} \
\hline \$ 25 & 25 & 45 \
\hline 24 & 30 & 40 \
\hline 22 & 35 & 35 \
\hline 20 & 40 & 30 \
\hline 18 & 45 & 25 \
\hline
\end{array}$$
-Using the above data the equilibrium price and quantity is

Question

Use the following schedule of data for for the following question 
 $$\begin{array} { | c | c | c | } 
\hline \begin{array} { c } 
\text { Price } \
\text { Dollars/Widget) }
\end{array} & \begin{array} { c } 
\text { Quartity Dernarded } \
\text { Hundreds) }
\end{array} & \begin{array} { c } 
\text { Quartity Bupplied } \
\text { Hurdreds) }
\end{array} \
\hline \$ 25 & 25 & 45 \
\hline 24 & 30 & 40 \
\hline 22 & 35 & 35 \
\hline 20 & 40 & 30 \
\hline 18 & 45 & 25 \
\hline
\end{array}$$
-Using the above data the equilibrium price and quantity is

Quizplus · Accepted Answer

The equilibrium price and quantity is where the quantity demanded and quantity supplied intersect. Looking at the table, we see that at a price of \$22, the quantity demanded and quantity supplied are both 35 (in hundreds). Therefore, the equilibrium price and quantity is \$22 and 35 (in hundreds), respectively. Choice C is the correct answer.

Use the Following Schedule of Data for for the Following