Table 4-11
-Refer to Table 4-11. The equilibrium price and quantity, respectively, are

Name: Table 4-11 -Refer to Table 4-11. The equilibrium price and quantity, respectively, are
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Question

Table 4-11 
-Refer to Table 4-11. The equilibrium price and quantity, respectively, are

Quizplus · Accepted Answer

The equilibrium price is where the quantity supplied equals the quantity demanded. At a price of $6, both the quantity supplied and quantity demanded are 30 units, making it the equilibrium price and quantity. None of the other options have both the quantity supplied and demanded at the same level.

Table 4-11 -Refer to Table 4-11. the Equilibrium Price and Quantity, Respectively