38 Refer to the accompanying table to answer the next six questions.Quantity ofMonthly Rent Apartment Demanded Apartments Supplied78,10083,76087,90094,25098,450118,500125,600Quantity of$1,500$1,550$1,600$1,650$1,700$1,750136,500112,750107,000100,10098,45095,00092,800$1.800What is the market equilibrium quantity of apartments rented?O a) 112,750O b) 125,600Oc) 107,000O d) 98,450O e) 118,500

Equilibrium in the market occurs at the intersection of demand and supply curves.

Refer to the accompanying table to answer the next six questions. Quantity of Quantity of Monthly Rent Apartment Demanded Apartments Supplied $1,500 $1,550 $1,600 $1,650 $1,700 $1,750 $1,800 136,500 112,750 78,100 83,760 87,900 94,250 107,000 100,100 98,450 95,000 92,800 98,450 118,500 125,600 What is the market equilibrium quantity of apartments rented? O a) 112,750 O b) 125,600 Oc) 107,000 d) 98,450 O e) 118,500

Refer to the accompanying table to answer the next six questions. Quantity of Quantity of Monthly Rent Apartment Demanded Apartments Supplied $1,500 $1,550 $1,600 $1,650 $1,700 $1,750 $1,800 136,500 112,750 78,100 83,760 87,900 94,250 107,000 100,100 98,450 95,000 92,800 98,450 118,500 125,600 What is the market equilibrium quantity of apartments rented? O a) 112,750 O b) 125,600 Oc) 107,000 d) 98,450 O e) 118,500

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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