Table 7-11

$$\begin{array} { | c | c | c | }
\hline \begin{array} { c }
\text { Price } \
\text { (Dollars per unit) }
\end{array} & \begin{array} { c }
\text { Quantity Demanded } \
\text { (Units) }
\end{array} & \begin{array} { c }
\text { Quantity Supplied } \
\text { (Units) }
\end{array} \
\hline 12.00 & 0 & 36 \
\hline 10.00 & 3 & 30 \
\hline 8.00 & 6 & 24 \
\hline 6.00 & 9 & 18 \
\hline 4.00 & 12 & 12 \
\hline 2.00 & 15 & 6 \
\hline 0.00 & 18 & 0 \
\hline
\end{array}$$
-Refer to Table 7-11. The equilibrium price is
A)$10.00.
B)$8.00.
C)$6.00.
D)$4.00.

Question

Table 7-11
​
​
 $$\begin{array} { | c | c | c | } 
\hline \begin{array} { c } 
\text { Price } \
\text { (Dollars per unit) }
\end{array} & \begin{array} { c } 
\text { Quantity Demanded } \
\text { (Units) }
\end{array} & \begin{array} { c } 
\text { Quantity Supplied } \
\text { (Units) }
\end{array} \
\hline 12.00 & 0 & 36 \
\hline 10.00 & 3 & 30 \
\hline 8.00 & 6 & 24 \
\hline 6.00 & 9 & 18 \
\hline 4.00 & 12 & 12 \
\hline 2.00 & 15 & 6 \
\hline 0.00 & 18 & 0 \
\hline
\end{array}$$ ​
-Refer to Table 7-11. The equilibrium price is
A)$10.00.
B)$8.00.
C)$6.00.
D)$4.00.

Quizplus · Accepted Answer

The equilibrium price is where the quantity demanded equals the quantity supplied, which is at $4.00 (12 units demanded and 12 units supplied).

Table 7-11 ​ ​ ​ -Refer to Table 7-11

Table 7-11

-Refer to Table 7-11