-Using the data in the above table, the equilibrium quantity and equilibrium price for a cellular telephone are

Question

Quizplus · Accepted Answer

The equilibrium quantity is the quantity at which the quantity supplied equals the quantity demanded. The equilibrium price is the price at which the quantity supplied equals the quantity demanded. In this case, the equilibrium quantity is 60,000 and the equilibrium price is $50.

-Using the Data in the Above Table, the Equilibrium Quantity