Use the following to answer questions :
-(Table: The Market for Chocolate-Covered Peanuts) Look at the table The Market for Chocolate-Covered Peanuts. The equilibrium quantity and the equilibrium price are _____ bags and _____.
A)140; $0.40
B)175; $0.60
C)175; $0.80
D)210; $0.50

Question

Use the following to answer questions : 
-(Table: The Market for Chocolate-Covered Peanuts) Look at the table The Market for Chocolate-Covered Peanuts. The equilibrium quantity and the equilibrium price are _____ bags and _____.
A)140; $0.40 
B)175; $0.60 
C)175; $0.80 
D)210; $0.50

Quizplus · Accepted Answer

The equilibrium point is where the quantity demanded equals quantity supplied. In the table, this occurs at a price of $0.60 and a quantity of 175 bags. Therefore, option B is the correct choice.

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