The table below shows the supply and demand for pencils:
(a.) What is the equilibrium price and quantity? How can you tell?
(b.) Suppose the current price is $0.20. What situation is present? Will the price remain at $0.20? Why or why not?

Question

The table below shows the supply and demand for pencils:
  (a.) What is the equilibrium price and quantity? How can you tell?
(b.) Suppose the current price is $0.20. What situation is present? Will the price remain at $0.20? Why or why not?

Quizplus · Accepted Answer

The Answer of The table below shows the supply and demand for pencils:
  (a.) What is the equilibrium price and quantity? How can you tell?
(b.) Suppose the current price is $0.20. What situation is present? Will the price remain at $0.20? Why or why not?

The Table Below Shows the Supply and Demand for Pencils