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?Exhibit
?
Use the Following Information About Demand and Supply

Question 3

Multiple Choice

?Exhibit
?
Use the following information about demand and supply schedules to answer the question.
PriceD1D2S1S2$12591914$108121712$811151510$61318138$41621116$2182494\begin{array}{ccccc} \text{Price} & D1 & D2 & S1 & S2 \\\hline\$ 12 & 5 & 9 & 19 & 14 \\\$ 10& 8 & 12 & 17 & 12 \\\$ 8 & 11 & 15 & 15 & 10 \\\$ 6 & 13 & 18 & 13 & 8 \\\$ 4 & 16 & 21 & 11 & 6 \\\$ 2 & 18 & 24 & 9 & 4\end{array}
-Refer to Exhibit. If D1 and S1 represent the demand and supply schedules in a particular market, the equilibrium price and quantity are ____ and ____, respectively.


A) $8; 15
B) $6; 13
C) $4; 16
D) $4; 11

Correct Answer:

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