The figure below shows the supply and demand curves for jeans in Smallville. At the price of $60 per pair, sellers offer ________ pairs of jeans per day, and buyers wish to purchase ________ pairs of jeans a day.
A)60; 20
B)8; 24
C)16; 16
D)24; 8

Question

The figure below shows the supply and demand curves for jeans in Smallville.  At the price of $60 per pair, sellers offer ________ pairs of jeans per day, and buyers wish to purchase ________ pairs of jeans a day.
A)60; 20 
B)8; 24 
C)16; 16 
D)24; 8

Quizplus · Accepted Answer

At any price, the supply curve tells the quantity sellers wish to sell, and the demand curve tells you the quantity that buyers wish to buy.

The Figure Below Shows the Supply and Demand Curves for Jeans