Table 3-1
$$\begin{array} { | l | l | l | }
\hline & \text { QUANITY } & \text { QUANTITY } \
\hline & \text { DEMANDED } & \text { SUPPLID } \
\hline \text { PRICE } & \text { (units per week) } & \text { (units per week) } \
\hline \text { R100 } & 1000 & 100 \
\hline \text { R150 } & 900 & 300 \
\hline \text { R200 } & 800 & 500 \
\hline \text { R250 } & 600 & 600 \
\hline \text { R300 } & 300 & 650 \
\hline
\end{array}$$
-Refer to Table 3-1. Given this data, the equilibrium price and quantity of CD players are

Question

Table 3-1
 $$\begin{array} { | l | l | l | } 
\hline & \text { QUANITY } & \text { QUANTITY } \
\hline & \text { DEMANDED } & \text { SUPPLID } \
\hline \text { PRICE } & \text { (units per week) } & \text { (units per week) } \
\hline \text { R100 } & 1000 & 100 \
\hline \text { R150 } & 900 & 300 \
\hline \text { R200 } & 800 & 500 \
\hline \text { R250 } & 600 & 600 \
\hline \text { R300 } & 300 & 650 \
\hline
\end{array}$$
-Refer to Table 3-1. Given this data, the equilibrium price and quantity of CD players are

Quizplus · Accepted Answer

The equilibrium price is where the quantity demanded and quantity supplied are equal. From Table 3-1, we can see that at a price of R250, the quantity demanded is 600 and the quantity supplied is also 600. Therefore, the equilibrium price is R250 and the equilibrium quantity is 600 players.

Table 3-1 -Refer to Table 3-1