Demand Supply P. $0 $0 900 150 750 250 700 4 300 6. 600 6. 350 8 550 400 10 450 10 12 450 12 250 550 14 100 14 700 a. What is equilibrium price and quantity in a market system with no interferences? Equilibrium price: $[ Equilibrium quantity: units b. If this wore a third-party-payer markot where the consumer pays $8, what is the quantity demanded? What is the price charged by the soller? Quantity demanded: units The price charged by the seller:
Demand Supply P. $0 $0 900 150 750 250 700 4 300 6. 600 6. 350 8 550 400 10 450 10 12 450 12 250 550 14 100 14 700 a. What is equilibrium price and quantity in a market system with no interferences? Equilibrium price: $[ Equilibrium quantity: units b. If this wore a third-party-payer markot where the consumer pays $8, what is the quantity demanded? What is the price charged by the soller? Quantity demanded: units The price charged by the seller:
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![You're given the following supply and demand tables:
Demand
Supply
$0
900
$0
150
2
4
6
2
750
250
4
700
300
6
600
350
8
550
8
400
10
450
10
450
12
250
12
550
14
100
14
700
a. What is equilibrium price and quantity in a market system with no interferences?
Equilibrium price: $
Equilibrium quantity:
units
b. If this were a third-party-payer market where the consumer pays $8, what is the quantity demanded? What is the price charged by the seller?
Quantity demanded:
units
The price charged by the seller: S](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc9713614-325b-4c44-b775-bd5803538a1b%2F6ea0bc2a-ac73-4080-8189-c1b3abbd40b4%2Fl6s6dyi_processed.png&w=3840&q=75)
Transcribed Image Text:You're given the following supply and demand tables:
Demand
Supply
$0
900
$0
150
2
4
6
2
750
250
4
700
300
6
600
350
8
550
8
400
10
450
10
450
12
250
12
550
14
100
14
700
a. What is equilibrium price and quantity in a market system with no interferences?
Equilibrium price: $
Equilibrium quantity:
units
b. If this were a third-party-payer market where the consumer pays $8, what is the quantity demanded? What is the price charged by the seller?
Quantity demanded:
units
The price charged by the seller: S
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