Given the following aggregate demand and aggregate supply schedules, determine the equilibrium level of prices and output.
A)equilibrium output $1,000 and equilibrium price level 25
B)equilibrium output $800 and equilibrium price level 50
C)equilibrium output $200 and equilibrium price level 125
D)equilibrium output $400 and equilibrium price level 25
E)equilibrium output $600 and equilibrium price level 75

Question

Given the following aggregate demand and aggregate supply schedules, determine the equilibrium level of prices and output. 
A)equilibrium output $1,000 and equilibrium price level 25 
B)equilibrium output $800 and equilibrium price level 50 
C)equilibrium output $200 and equilibrium price level 125 
D)equilibrium output $400 and equilibrium price level 25 
E)equilibrium output $600 and equilibrium price level 75

Quizplus · Accepted Answer

The Answer of Given the following aggregate demand and aggregate supply schedules, determine the equilibrium level of prices and output. 
A)equilibrium output $1,000 and equilibrium price level 25 
B)equilibrium output $800 and equilibrium price level 50 
C)equilibrium output $200 and equilibrium price level 125 
D)equilibrium output $400 and equilibrium price level 25 
E)equilibrium output $600 and equilibrium price level 75

Given the Following Aggregate Demand and Aggregate Supply Schedules, Determine