(Table) Using the data for the market for lattes in the table, at a price of $6: $$\begin{array} { l c c c c c c }
\mathbf { P } & \mathbf { \$ 1 0 } & \mathbf { \$ 8 } & \mathbf { \$ 6 } & \mathbf { \$ 4 } & \mathbf { \$ 2 } & \mathbf { \$ 0 } \
\mathbf { Q } _ { d } & 3 & 7 & 10 & 14 & 20 & 30 \
\boldsymbol { Q } _ { s } & 20 & 15 & 10 & 7 & 3 & 0
\end{array}$$

Question

(Table) Using the data for the market for lattes in the table, at a price of $6: $$\begin{array} { l c c c c c c } 
\mathbf { P } & \mathbf { \$ 1 0 } & \mathbf { \$ 8 } & \mathbf { \$ 6 } & \mathbf { \$ 4 } & \mathbf { \$ 2 } & \mathbf { \$ 0 }  \
\mathbf { Q } _ { d } & 3 & 7 & 10 & 14 & 20 & 30 \
\boldsymbol { Q } _ { s } & 20 & 15 & 10 & 7 & 3 & 0
\end{array}$$

Quizplus · Accepted Answer

At a price of $6, the quantity demanded (Qd) is 10 and the quantity supplied (Qs) is also 10, indicating that the market is in equilibrium, so the price will stay the same.

(Table) Using the Data for the Market for Lattes in the Table