Table 4-1

-Refer to the Table 4-1.What would the equilibrium price and quantity be

Name: Table 4-1 -Refer to the Table 4-1.What would the equilibrium price and quantity be
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Question

Table 4-1
 
-Refer to the Table 4-1.What would the equilibrium price and quantity be

Quizplus · Accepted Answer

Equilibrium price is where demand and supply curve intersect. At 60 units, the quantity demanded and quantity supplied are equal. At this intersection, the price is $9. Therefore, the correct answer is B - $9 and 60 units.

Table 4-1 -Refer to the Table 4-1.What Would the Equilibrium Price and the Equilibrium