Bottles of Pure Hawaiian Air contain air that smells like the floral bouquet that greets tourists as they get off the plane in Hawaii.When a tourist shop began selling Pure Hawaiian Air,it charged $5 per bottle and could not keep up with the demand.It has since raised the price to $7.Now the shop is still selling all the bottles of Pure Hawaiian Air it carries,but the owner is not forced to reorder on a daily basis.The $7 price is probably a(n):
A) supply schedule
B) symmetrical price
C) price equilibrium
D) inventory equalizer
E) inelastic price

Question

Quizplus · Accepted Answer

When demand and supply are approximately equal,price equilibrium is reached.

Bottles of Pure Hawaiian Air Contain Air That Smells Like