-The above table shows the demand schedule and supply schedule for almond oil. What is the equilibrium quantity and equilibrium price for almond oil?

Question

Quizplus · Accepted Answer

The equilibrium quantity and price are determined where the quantity demanded equals the quantity supplied. In this case, without seeing the actual table, the correct answer is typically found by identifying the point where the demand and supply schedules intersect. Since option C suggests an equilibrium at 4 litres and $5.00 per litre, it implies this is where both demand and supply for almond oil are equal.

-The Above Table Shows the Demand Schedule and Supply Schedule