Solved

-Using the Data in the Above Table, the Equilibrium Quantity

Question 267

Multiple Choice

 Price  (dollars per  cellular  phone)   Quantity  demanded  (thousands)   Quantity  supplied  (thousands)  100501008055805060602010040\begin{array}{|l|l|l|}\hline\begin{array}{l}\text { Price } \\\text { (dollars per } \\\text { cellular } \\\text { phone) }\end{array} & \begin{array}{l}\text { Quantity } \\\text { demanded } \\\text { (thousands) }\end{array} & \begin{array}{l}\text { Quantity } \\\text { supplied } \\\text { (thousands) }\end{array} \\\hline 100 & 50 & 100 \\\hline 80 & 55 & 80 \\\hline 50 & 60 & 60 \\\hline 20 & 100 & 40 \\\hline\end{array}
-Using the data in the above table, the equilibrium quantity and equilibrium price for a cellular telephone is


A) 40 thousand and $20.
B) 50 thousand and $100.
C) 80 thousand and $80.
D) 60 thousand and $50.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents