Table 4-5

-Refer to Table 4-5.The equilibrium price and quantity,respectively,are

Name: Table 4-5 -Refer to Table 4-5.The equilibrium price and quantity,respectively,are
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Question

Table 4-5
 
-Refer to Table 4-5.The equilibrium price and quantity,respectively,are

Quizplus · Accepted Answer

The equilibrium price is where the quantity demanded equals quantity supplied. In the given table, at a price of $6, the quantity demanded and supplied are both 30 units. Therefore, the equilibrium price and quantity are $6 and 30, respectively.

Table 4-5 -Refer to Table 4-5.The Equilibrium Price and Quantity,respectively,are