Table 3.2 - Demand and supply for trucks (millions of trucks per year)
-In Table 3.2,if the worldwide price of trucks is $30,000,the truck market:

Question

Table 3.2 - Demand and supply for trucks (millions of trucks per year)  
-In Table 3.2,if the worldwide price of trucks is $30,000,the truck market:

Quizplus · Accepted Answer

Looking at the table, we can see that at a price of $30,000 per truck, the quantity demanded by consumers is equal to the quantity supplied by producers, which is 150 million trucks per year. This means that the market is in equilibrium, and there is no shortage or surplus of trucks. Therefore, the correct answer is A) Is in equilibrium.

Table 32 - Demand and Supply for Trucks (Millions of Trucks