The table below shows the supply and demand for T-shirts:
(a.) If the price in the market is currently $11.00, is the market in equilibrium? Explain.
(b.) If the price in the market is currently $8.00 and the supply and demand for T-shirts are stable, will the price remain $8.00? Why or why not?

Question

The table below shows the supply and demand for T-shirts:
  (a.) If the price in the market is currently $11.00, is the market in equilibrium? Explain.
(b.) If the price in the market is currently $8.00 and the supply and demand for T-shirts are stable, will the price remain $8.00? Why or why not?

Quizplus · Accepted Answer

The Answer of The table below shows the supply and demand for T-shirts:
  (a.) If the price in the market is currently $11.00, is the market in equilibrium? Explain.
(b.) If the price in the market is currently $8.00 and the supply and demand for T-shirts are stable, will the price remain $8.00? Why or why not?

The Table Below Shows the Supply and Demand for T-Shirts