The table contains information on the price per month and the monthly demand and supply of online music streaming subscriptions. Price Quantity demanded (thousands) Quantity supplied (thousands) $10.20 420 270 $10.40 360 290 $10.60 320 320 $10.80 270 390 What are the equilibrium price and quantity? Equilibrium price: $ Equilibrium quantity: thousand subscriptions

Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter7: Consumer Choice And Elasticity
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The table contains information on the price per month and the monthly demand and supply of online music streaming
subscriptions.
Price
Quantity demanded (thousands)
Quantity supplied (thousands)
$10.20
420
270
$10.40
360
290
$10.60
320
320
$10.80
270
390
What are the equilibrium price and quantity?
Equilibrium price: $
Equilibrium quantity:
thousand subscriptions
Transcribed Image Text:The table contains information on the price per month and the monthly demand and supply of online music streaming subscriptions. Price Quantity demanded (thousands) Quantity supplied (thousands) $10.20 420 270 $10.40 360 290 $10.60 320 320 $10.80 270 390 What are the equilibrium price and quantity? Equilibrium price: $ Equilibrium quantity: thousand subscriptions
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