Table 4-5

-Refer to Table 4-5. If the four suppliers listed are the only suppliers in this market and the market demand schedule is:

$$\begin{array} { | c | c | }
\hline \begin{array} { c }
\text { Price } \
\text { (Dollars per case) }
\end{array} & \begin{array} { c }
\text { Quantity Demanded } \
\text { (Cases of water) }
\end{array} \
\hline 0.00 & 350 \
\hline 2.00 & 300 \
\hline 4.00 & 250 \
\hline 6.00 & 200 \
\hline
\end{array}$$ The equilibrium price and quantity are
A)$0.00 and 350 cases.
B)$4.00 and 250 cases.
C)$2.00 and 300 cases.
D)$6.00 and 200 cases.

Question

Table 4-5
 
-Refer to Table 4-5. If the four suppliers listed are the only suppliers in this market and the market demand schedule is: ​
​
$$\begin{array} { | c | c | } 
\hline \begin{array} { c } 
\text { Price } \
\text { (Dollars per case) }
\end{array} & \begin{array} { c } 
\text { Quantity Demanded } \
\text { (Cases of water) }
\end{array} \
\hline 0.00 & 350 \
\hline 2.00 & 300 \
\hline 4.00 & 250 \
\hline 6.00 & 200 \
\hline
\end{array}$$ The equilibrium price and quantity are
A)$0.00 and 350 cases. 
B)$4.00 and 250 cases. 
C)$2.00 and 300 cases. 
D)$6.00 and 200 cases.

Quizplus · Accepted Answer

The equilibrium price and quantity are $2.00 and 300 cases. This is the point where the quantity supplied equals the quantity demanded.

Table 4-5 -Refer to Table 4-5 The Equilibrium Price and Quantity Are A)$0

Table 4-5

-Refer to Table 4-5 The Equilibrium Price and Quantity Are
A)$0