Table 4-1
$$\begin{array} { l | l | l }
\hline \text { PRICE } & \text { QUANTITY DEMANDED } & \text { QUANTITY SUPPLIED } \
\hline \$ 10 & 10 & 60 \
\hline \$ 8 & 20 & 45 \
\hline \$ 6 & 30 & 30 \
\hline \$ 4 & 40 & 15 \
\hline \$ 2 & 50 & 0
\end{array}$$
-Refer to the Table 4-1.What would the equilibrium price and quantity be?

Question

Table 4-1
 $$\begin{array} { l | l | l } 
\hline \text { PRICE } & \text { QUANTITY DEMANDED } & \text { QUANTITY SUPPLIED } \
\hline \$ 10 & 10 & 60 \
\hline \$ 8 & 20 & 45 \
\hline \$ 6 & 30 & 30 \
\hline \$ 4 & 40 & 15 \
\hline \$ 2 & 50 & 0
\end{array}$$
-Refer to the Table 4-1.What would the equilibrium price and quantity be?

Quizplus · Accepted Answer

The equilibrium occurs where quantity demanded equals quantity supplied. Looking at the table, this occurs at a price of $6 and a quantity of 30. Therefore, choice B, $6 and 30, is the correct answer.

Table 4-1 -Refer to the Table 4-1