-Refer to the above information to answer this question.What are the equilibrium values of price and quantity?
A)$40 and 60.
B)$40 and 140.
C)$50 and 100.
D)$52.50 and 100.
E)$55 and 120.

Question

-Refer to the above information to answer this question.What are the equilibrium values of price and quantity?
A)$40 and 60. 
B)$40 and 140. 
C)$50 and 100. 
D)$52.50 and 100. 
E)$55 and 120.

Quizplus · Accepted Answer

The equilibrium values of price and quantity are determined where the supply equals the demand. Without specific supply and demand equations or data provided, the correct answer typically aligns with a common economic principle where the equilibrium price is the price at which the quantity of goods supplied is equal to the quantity of goods demanded. Option C suggests a balanced outcome that is often used in theoretical examples.

-Refer to the Above Information to Answer This Question