$$\begin{array} { | l | l | l | }
\hline \begin{array} { l }
\text { Price } \
\text { (dollars per } \
\text { ride) }
\end{array} & \begin{array} { l }
\text { Quantity } \
\text { demanded } \
\text { (rides per } \
\text { day) }
\end{array} & \begin{array} { l }
\text { Quantity } \
\text { supplied } \
\text { (rides per } \
\text { day) }
\end{array} \
\hline 2 & 100 & 40 \
\hline 4 & 90 & 50 \
\hline 6 & 80 & 60 \
\hline 8 & 70 & 70 \
\hline 10 & 60 & 80 \
\hline 12 & 50 & 90 \
\hline
\end{array}$$
-The table gives the demand and supply schedules for boat rides. If the supply of boat rides increases by 20 rides a day, the price will __________.

Question

$$\begin{array} { | l | l | l | } 
\hline \begin{array} { l } 
\text { Price } \
\text { (dollars per } \
\text { ride) }
\end{array} & \begin{array} { l } 
\text { Quantity } \
\text { demanded } \
\text { (rides per } \
\text { day) }
\end{array} & \begin{array} { l } 
\text { Quantity } \
\text { supplied } \
\text { (rides per } \
\text { day) }
\end{array} \
\hline 2 & 100 & 40 \
\hline 4 & 90 & 50 \
\hline 6 & 80 & 60 \
\hline 8 & 70 & 70 \
\hline 10 & 60 & 80 \
\hline 12 & 50 & 90 \
\hline
\end{array}$$
-The table gives the demand and supply schedules for boat rides. If the supply of boat rides increases by 20 rides a day, the price will __________.

Quizplus · Accepted Answer

With an increase in supply by 20 rides a day, the new supply at each price level will be: 60, 70, 80, 90, 100, and 110. At a price of $6, the quantity supplied (80) will equal the quantity demanded (80), establishing a new equilibrium price.

-The Table Gives the Demand and Supply Schedules for Boat