The table gives the demand schedule and the supply schedule of smoothies. Quantity supplied Price (dollars per smoothie) 1 2 3 456 5 Quantity demanded (smoothies per day) 800 750 700 650 600 550 What is the equilibrium price of a smoothie? 350 450 550 650 750 850 The equilibrium price is $ Type per smoothie. (Enter your response as a whole number.)

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question

The equilibrium price is $_____ per smoothie. (Enter your response as a whole number)

thank you

SS ATTACHED

The table gives the demand schedule and the supply schedule of smoothies.
Quantity
supplied
Price
(dollars per smoothie)
1
2
N3456
Quantity demanded
(smoothies per day)
800
750
700
650
600
550
350
450
550
650
750
850
What is the equilibrium price of a smoothie?
The equilibrium price is $ Type per smoothie. (Enter your response as a
whole number.)
Transcribed Image Text:The table gives the demand schedule and the supply schedule of smoothies. Quantity supplied Price (dollars per smoothie) 1 2 N3456 Quantity demanded (smoothies per day) 800 750 700 650 600 550 350 450 550 650 750 850 What is the equilibrium price of a smoothie? The equilibrium price is $ Type per smoothie. (Enter your response as a whole number.)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Demand and Supply Curves
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education