The table gives the demand and supply schedules for mechanical pencils. Quantity demanded Quantity supplied (per day) Price What is the equilibrium price of a mechanical pencil and the equilibrium quantity of mechanical pencils per day? (dollars per pencil) (per day) 1 200 40 2 180 60 The equilibrium quantity of mechanical pencils is a day. 160 80 4 140 100 The equilibrium price is $ a mechanical pencil. 5 120 120 6. 100 140

The table gives the demand and supply schedules for mechanical pencils. Quantity demanded Quantity supplied (per day) Price What is the equilibrium price of a mechanical pencil and the equilibrium quantity of mechanical pencils per day? (dollars per pencil) (per day) 1 200 40 2 180 60 The equilibrium quantity of mechanical pencils is a day. 160 80 4 140 100 The equilibrium price is $ a mechanical pencil. 5 120 120 6. 100 140

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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