Complete Table 3.1.Then answer the indicated question. Table 3.1 Individual Demand and Supply Schedules In Table 3.1, the equilibrium market price is
Quantity Demanded by
$\begin{array}{rccc}
\text { Price } & \text { Alejandro } & \text { Ben } & \text { Carl } & \text { Market} \
\hline \$8.00& 8 & 4 & 2 &\_\_\_\
6.00 & 12 & 4 & 4 &\_\_\_\
4.00 & 20 & 4 & 6 &\_\_\_\
2.00 & 22 & 4 & 6&\_\_\_\
\end{array}$ Quantity Supplied by
$\begin{array}{lccc}
\text { Price } & \text { Avery } & \text { Brandon } & \text { Cassandra } \
\hline \$ 8.00 & 60 & 4 & 6 &\_\_\_\
\$ 6.00 & 42 & 4 & 4&\_\_\_ \
\$ 4.00 & 24 & 4 & 2 &\_\_\_\
\$ 2.00 & 6 & 4 & 0&\_\_\_\
\end{array}$
A) $4.
B) $6.
C) $2.
D) $8.

Question

Complete Table 3.1.Then answer the indicated question. Table 3.1 Individual Demand and Supply Schedules In Table 3.1, the equilibrium market price is
Quantity Demanded by
$\begin{array}{rccc}
\text { Price } & \text { Alejandro } & \text { Ben } & \text { Carl } & \text { Market} \
\hline \$8.00& 8 & 4 & 2 &\_\_\_\
6.00 & 12 & 4 & 4 &\_\_\_\
4.00 & 20 & 4 & 6 &\_\_\_\
2.00 & 22 & 4 & 6&\_\_\_\
\end{array}$ Quantity Supplied by 
$\begin{array}{lccc}
\text { Price } & \text { Avery } & \text { Brandon } & \text { Cassandra } \
\hline \$ 8.00 & 60 & 4 & 6 &\_\_\_\
\$ 6.00 & 42 & 4 & 4&\_\_\_ \
\$ 4.00 & 24 & 4 & 2 &\_\_\_\
\$ 2.00 & 6 & 4 & 0&\_\_\_\
\end{array}$
A) $4.
B) $6.
C) $2.
D) $8.

Quizplus · Accepted Answer

The equilibrium market price is the price at which the quantity demanded equals the quantity supplied. In this case, the quantity demanded is 14 units at a price of $6.00, and the quantity supplied is also 14 units at a price of $6.00. Therefore, the equilibrium market price is $6.00.

Complete Table 3 Quantity Supplied By A) $4 B) $6

Complete Table 3 Quantity Supplied By A) $4
B) $6