Answer the question on the basis of the given supply and demand data for wheat: $\begin{array} { c c c }
\text { Bushels Demanded }&&\text { Bushels Supplied Per }\
\text { Per Month } & \text { Price Per Bushel } & \text { Month } \
\hline
45 & \$ 5 & 77 \
50 & 4 & 73 \
56 & 3 & 68 \
61 & 2 & 61 \
67 & 1 & 57
\end{array}$ Refer to the data.Equilibrium price will be:

Question

Answer the question on the basis of the given supply and demand data for wheat: $\begin{array} { c c c } 
\text { Bushels Demanded }&&\text { Bushels Supplied Per }\
\text { Per Month } & \text { Price Per Bushel } & \text { Month } \ 
\hline
45 & \$ 5 & 77 \ 
50 & 4 & 73 \ 
56 & 3 & 68 \ 
61 & 2 & 61 \ 
67 & 1 & 57 
\end{array}$ Refer to the data.Equilibrium price will be:

Quizplus · Accepted Answer

The equilibrium price is where the quantity demanded equals the quantity supplied. From the table, at $2 per bushel, both the quantity demanded and supplied are 61 bushels per month, indicating equilibrium.

Answer the Question on the Basis of the Given Supply