Use the following table to answer the questions that follow.

-What would be the equilibrium quantity in the market for corn?
A) 223,000
B) 3.50
C) 103,000
D) 200,000
E) 169,000

Question

Use the following table to answer the questions that follow.
 
-What would be the equilibrium quantity in the market for corn?
A) 223,000 
B) 3.50 
C) 103,000 
D) 200,000 
E) 169,000

Quizplus · Accepted Answer

The equilibrium quantity occurs at the intersection of the demand and supply curves, which is where quantity demanded equals quantity supplied. In this case, that occurs at a price of $3.50 and a quantity of 169,000. Thus, the equilibrium quantity in the market for corn is 169,000.

Use the Following Table to Answer the Questions That Follow