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 the price of $60 per pair, the quantity supplied is 24 pairs of jeans per day (point A on the supply curve) and the quantity demanded is 8 pairs of jeans per day (point B on the demand curve). Therefore, choice D is the correct answer.

The Figure Below Shows the Supply and Demand Curves for Jeans