Complete Table 3.1.Then answer the indicated question. Table 3.1 Individual Demand and Supply Schedules In Table 3.1, the equilibrium market quantity is
Quantity Demanded by
$\begin{array}{rccc}
\text { Price } & \text { Alejandro } & \text { Ben } & \text { Carl } & \text { Market} \
\hline \$8.00& 8 & 4 & 2 &\_\_\_\
6.00 & 12 & 4 & 4 &\_\_\_\
4.00 & 20 & 4 & 6 &\_\_\_\
2.00 & 22 & 4 & 6&\_\_\_\
\end{array}$ Quantity Supplied by
$\begin{array}{lccc}
\text { Price } & \text { Avery } & \text { Brandon } & \text { Cassandra } \
\hline \$ 8.00 & 60 & 4 & 6 &\_\_\_\
\$ 6.00 & 42 & 4 & 4&\_\_\_ \
\$ 4.00 & 24 & 4 & 2 &\_\_\_\
\$ 2.00 & 6 & 4 & 0&\_\_\_\
\end{array}$
A) 14.
B) 22.
C) 30.
D) 70.

Question

Complete Table 3.1.Then answer the indicated question. Table 3.1 Individual Demand and Supply Schedules In Table 3.1, the equilibrium market quantity is
Quantity Demanded by
$\begin{array}{rccc}
\text { Price } & \text { Alejandro } & \text { Ben } & \text { Carl } & \text { Market} \
\hline \$8.00& 8 & 4 & 2 &\_\_\_\
6.00 & 12 & 4 & 4 &\_\_\_\
4.00 & 20 & 4 & 6 &\_\_\_\
2.00 & 22 & 4 & 6&\_\_\_\
\end{array}$ Quantity Supplied by 
$\begin{array}{lccc}
\text { Price } & \text { Avery } & \text { Brandon } & \text { Cassandra } \
\hline \$ 8.00 & 60 & 4 & 6 &\_\_\_\
\$ 6.00 & 42 & 4 & 4&\_\_\_ \
\$ 4.00 & 24 & 4 & 2 &\_\_\_\
\$ 2.00 & 6 & 4 & 0&\_\_\_\
\end{array}$
A) 14.
B) 22.
C) 30.
D) 70.

Quizplus · Accepted Answer

To find the equilibrium market quantity, we need to find the price where the quantity demanded equals the quantity supplied. First, we complete the table by summing the individual quantities demanded and supplied at each price level.For the demand side at each price:- At $8.00: 8 + 4 + 2 = 14- At $6.00: 12 + 4 + 4 = 20- At $4.00: 20 + 4 + 6 = 30- At $2.00: 22 + 4 + 6 = 32For the supply side at each price:- At $8.00: 60 + 4 + 6 = 70- At $6.00: 42 + 4 + 4 = 50- At $4.00: 24 + 4 + 2 = 30- At $2.00: 6 + 4 + 0 = 10The equilibrium market quantity is where the quantity demanded equals the quantity supplied, which is 30 units at a price of $4.00.

Complete Table 3 Quantity Supplied By A) 14 B) 22

Complete Table 3 Quantity Supplied By A) 14
B) 22