$$\begin{array} { c c c }
\text { Price } & \text { Quantity } & \text { Quantity } \
& \text { Demanded } & \text { Supplied } \
\$ 10 & 24 & 42 \
8 & 30 & 30 \
6 & 36 & 22 \
4 & 42 & 12 \
2 & 48 & 4
\end{array}$$
-Equilibrium price is _______ and equilibrium quantity is ______.
HYPERLINK "" Error! Hyperlink reference not valid.HYPERLINK "" Error! Hyperlink reference not valid.

Question

$$\begin{array} { c c c } 
\text { Price } & \text { Quantity } & \text { Quantity } \
& \text { Demanded } & \text { Supplied } \
\$ 10 & 24 & 42 \
8 & 30 & 30 \
6 & 36 & 22 \
4 & 42 & 12 \
2 & 48 & 4
\end{array}$$
-Equilibrium price is _______ and equilibrium quantity is ______.
HYPERLINK "" Error! Hyperlink reference not valid.HYPERLINK "" Error! Hyperlink reference not valid.

Quizplus · Accepted Answer

The equilibrium price is where the quantity demanded equals the quantity supplied. From the table, this occurs at a price of $8, with a quantity of 30.

-Equilibrium Price Is _______ and Equilibrium Quantity Is ______

-Equilibrium Price Is _ and Equilibrium Quantity Is