Table 9.3
-Table 9.3 represents 3 markets for used stereos. Which of the markets in Table 9.3 are NOT in equilibrium?
A) 1 only
B) 2 only
C) 3 only
D) 1, 2, and 3

Question

Table 9.3
-Table 9.3 represents 3 markets for used stereos. Which of the markets in Table 9.3 are NOT in equilibrium?
A) 1 only 
B) 2 only 
C) 3 only 
D) 1, 2, and 3

Quizplus · Accepted Answer

A market is in equilibrium when the quantity demanded equals the quantity supplied. Without specific data from Table 9.3, it's impossible to determine which markets are not in equilibrium. However, if all options are listed, it implies that none of the markets are in equilibrium, hence the correct answer is D, indicating that all markets (1, 2, and 3) are not in equilibrium.

Table 9.3 -Table 9.3 Represents 3 Markets for Used Stereos. Which of Which