Table 3-3

-In Table 3-3,if other influences remain constant and the market is free to adjust,a stable equilibrium price will be established at

Question

Table 3-3
 
-In Table 3-3,if other influences remain constant and the market is free to adjust,a stable equilibrium price will be established at

Quizplus · Accepted Answer

The equilibrium price is the price at which the quantity supplied equals the quantity demanded. In Table 3-3, the quantity supplied equals the quantity demanded at a price of $4. Therefore, the equilibrium price is $4.

Table 3-3 -In Table 3-3,if Other Influences Remain Constant and the Market