$$\begin{array} { | c | c | c | }
\hline \begin{array} { c }
\text { Price } \
\text { (dollars per disk) }
\end{array} & \begin{array} { c }
\text { Quantity } \
\text { demanded } \
\text { (millions of disks } \
\text { per month) }
\end{array} & \begin{array} { c }
\text { Quantity supplied } \
\text { (millions of disks } \
\text { per month) }
\end{array} \
\hline 0.50 & 50 & 0 \
\hline 1.00 & 40 & 15 \
\hline 1.50 & 30 & 30 \
\hline 2.00 & 20 & 45 \
\hline 2.50 & 10 & 60 \
\hline 3.00 & 0 & 75 \
\hline
\end{array}$$
-Suppose the market for CD-Rs has the demand and supply schedules shown in the table above.What is the equilibrium price and the equilibrium quantity in this market?
Suppose the current price is $2.00.What is the quantity of CD-Rs sold?
Explain.Is there a shortage or a surplus?
How big is it?
Explain.

Question

$$\begin{array} { | c | c | c | } 
\hline \begin{array} { c } 
\text { Price } \
\text { (dollars per disk) }
\end{array} & \begin{array} { c } 
\text { Quantity } \
\text { demanded } \
\text { (millions of disks } \
\text { per month) }
\end{array} & \begin{array} { c } 
\text { Quantity supplied } \
\text { (millions of disks } \
\text { per month) }
\end{array} \
\hline 0.50 & 50 & 0 \
\hline 1.00 & 40 & 15 \
\hline 1.50 & 30 & 30 \
\hline 2.00 & 20 & 45 \
\hline 2.50 & 10 & 60 \
\hline 3.00 & 0 & 75 \
\hline
\end{array}$$
-Suppose the market for CD-Rs has the demand and supply schedules shown in the table above.What is the equilibrium price and the equilibrium quantity in this market?
Suppose the current price is $2.00.What is the quantity of CD-Rs sold?
Explain.Is there a shortage or a surplus?
How big is it?
Explain.

Quizplus · Accepted Answer

The Answer of $$\begin{array} { | c | c | c | } 
\hline \begin{array} { c } 
\text { Price } \
\text { (dollars per disk) }
\end{array} & \begin{array} { c } 
\text { Quantity } \
\text { demanded } \
\text { (millions of disks } \
\text { per month) }
\end{array} & \begin{array} { c } 
\text { Quantity supplied } \
\text { (millions of disks } \
\text { per month) }
\end{array} \
\hline 0.50 & 50 & 0 \
\hline 1.00 & 40 & 15 \
\hline 1.50 & 30 & 30 \
\hline 2.00 & 20 & 45 \
\hline 2.50 & 10 & 60 \
\hline 3.00 & 0 & 75 \
\hline
\end{array}$$
-Suppose the market for CD-Rs has the demand and supply schedules shown in the table above.What is the equilibrium price and the equilibrium quantity in this market?
Suppose the current price is $2.00.What is the quantity of CD-Rs sold?
Explain.Is there a shortage or a surplus?
How big is it?
Explain.

-Suppose the Market for CD-Rs Has the Demand and Supply