The table given below shows the quantity supplied and the quantity demanded for a good at different prices. If the price of the good described in the table given below is $1.50, then:
Table 4.1

Question

The table given below shows the quantity supplied and the quantity demanded for a good at different prices. If the price of the good described in the table given below is $1.50, then:​ ​
Table 4.1
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Quizplus · Accepted Answer

At a price of $1.50, the quantity demanded and the quantity supplied are both 50 units. Therefore, the market is in equilibrium, and there is neither a shortage nor a surplus of the good. The options D and E are not applicable as there is no information to suggest any change in the quantity supplied or demanded.

The Table Given Below Shows the Quantity Supplied and the Quantity