The table below gives the quantity of a product demanded and the quantity supplied for various prices. Solve the
problem.
-Find the market equilibrium price. $$\begin{array} { l | l | l }
\text { Price (dollars) } & \text { Quantity Demanded } & \text { Quantity Supplied } \
\hline 100 & 250 & 0 \
120 & 210 & 40 \
140 & 170 & 80 \
160 & 130 & 120 \
180 & 90 & 160
\end{array}$$
A) $162.50
B) $167.50
C) $125.00
D) $157.50

Question

The table below gives the quantity of a product demanded and the quantity supplied for various prices. Solve the
problem.
-Find the market equilibrium price. $$\begin{array} { l | l | l } 
\text { Price (dollars) } & \text { Quantity Demanded } & \text { Quantity Supplied } \
\hline 100 & 250 & 0 \
120 & 210 & 40 \
140 & 170 & 80 \
160 & 130 & 120 \
180 & 90 & 160
\end{array}$$
A) $162.50
B) $167.50
C) $125.00
D) $157.50

Quizplus · Accepted Answer

The market equilibrium price is the price at which the quantity demanded is equal to the quantity supplied. In this case, the equilibrium price is $160, since at that price, both the quantity demanded and the quantity supplied are 130.

The Table Below Gives the Quantity of a Product Demanded