-In the above table, if the market is perfectly competitive and unregulated, the equilibrium price will be
A) $50 per unit.
B) $60 per unit.
C) $70 per unit.
D) $110 per unit.

Question

-In the above table, if the market is perfectly competitive and unregulated, the equilibrium price will be
A) $50 per unit. 
B) $60 per unit. 
C) $70 per unit. 
D) $110 per unit.

Quizplus · Accepted Answer

The equilibrium price in a perfectly competitive market is the price at which the quantity supplied equals the quantity demanded. In this case, the equilibrium price is $50 per unit, because at that price, the quantity supplied (100 units) equals the quantity demanded (100 units).

-In the Above Table, If the Market Is Perfectly Competitive