Figure 2.1 The Market for Calculators

-Refer to Table 2.1. The equilibrium price and equilibrium quantity of CD players are
A) $150 and 300 players
B) $200 and 800 players
C) $250 and 600 players
D) $300 and 650 players

Question

Figure 2.1 The Market for Calculators
 
-Refer to Table 2.1. The equilibrium price and equilibrium quantity of CD players are
A) $150 and 300 players 
B) $200 and 800 players 
C) $250 and 600 players 
D) $300 and 650 players

Quizplus · Accepted Answer

The equilibrium price and quantity are determined where the supply equals the demand. At $250, both the supply and demand for CD players are at 600, making it the equilibrium point.

Figure 2.1 the Market for Calculators