Refer to Table 4-10. If the four suppliers listed are the only suppliers in this market andthe market demand schedule is:Price$0.00Quantity Demanded1200$3.00 900$6.00 600$9.00 300the equilibrium price and quantity areO $3.00 and 300 cases$6.00 and 600 casesO $9.00 and 600 cases$0.00 and 1200 cases Table 4-10The following table shows the number of cases of water each seller is willing to sell atthe prices listed.Price per case Alpine Springs Brook Mountain$0.00$3.00$6.00$9.000 cases100 cases200 cases300 cases0 cases40 cases80 cases120 casesCascade Waters Dew Good0 cases60 cases120 cases180 cases0 cases100 cases200 cases300 cases

Market equilibrium occurs when market demand equals market supply.Market supply is the horizontal…

Refer to Table 4-10. If the four suppliers listed are the only suppliers in this market and the market demand schedule is: Price $0.00 Quantity Demanded 1200 $3.00 900 $6.00 600 $9.00 300 the equilibrium price and quantity are O $3.00 and 300 cases $6.00 and 600 cases O $9.00 and 600 cases

Refer to Table 4-10. If the four suppliers listed are the only suppliers in this market and the market demand schedule is: Price $0.00 Quantity Demanded 1200 $3.00 900 $6.00 600 $9.00 300 the equilibrium price and quantity are O $3.00 and 300 cases $6.00 and 600 cases O $9.00 and 600 cases

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Refer to Table 4-10. If the four suppliers listed are the only suppliers in this market and
the market demand schedule is:
Price
$0.00
Quantity Demanded
1200
$3.00 900
$6.00 600
$9.00 300
the equilibrium price and quantity are
O $3.00 and 300 cases
$6.00 and 600 cases
O $9.00 and 600 cases
$0.00 and 1200 cases

Table 4-10
The following table shows the number of cases of water each seller is willing to sell at
the prices listed.
Price per case Alpine Springs Brook Mountain
$0.00
$3.00
$6.00
$9.00
0 cases
100 cases
200 cases
300 cases
0 cases
40 cases
80 cases
120 cases
Cascade Waters Dew Good
0 cases
60 cases
120 cases
180 cases
0 cases
100 cases
200 cases
300 cases

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