(Table: The Market for Kombucha) Use Table: The Market for Kombucha. The table shows the quantity demanded (Qd) and quantity supplied (Qs) of kombucha at various prices. If the government does NOT impose a price control, the price of a bottle of kombucha will equal:
A)$2.50.
B)$2.75.
C)$3.00.
D)$3.25.

Question

(Table: The Market for Kombucha) Use Table: The Market for Kombucha. The table shows the quantity demanded (Qd) and quantity supplied (Qs) of kombucha at various prices. If the government does NOT impose a price control, the price of a bottle of kombucha will equal: 
A)$2.50. 
B)$2.75. 
C)$3.00. 
D)$3.25.

Quizplus · Accepted Answer

The price of a bottle of kombucha will be determined by the intersection of the demand and supply curves, which occurs at a quantity of 120 and a price of $2.75. Therefore, the price of a bottle of kombucha will be $2.75 if the government does not impose a price control.

(Table: the Market for Kombucha) Use Table: the Market for Kombucha