Use the following table to answer the next five questions. Market for Corn Price Quantity Demanded Quantity Supplied $2.00 $2.50 $3.00 $3.50 $4.00 $4.50 $5.00 Year 200,000 100,000 125,000 141,000 169,000 2 3. 4 186,000 184,000 169,000 161,000 155,000 181,000 200,000 6 7 120,000 223,000 What would be the equilibrium quantity in the market for corn? a) 223,000 O b) 3.5 Oc) 103,000 O d) 200,000 O e) 169,000
Use the following table to answer the next five questions. Market for Corn Price Quantity Demanded Quantity Supplied $2.00 $2.50 $3.00 $3.50 $4.00 $4.50 $5.00 Year 200,000 100,000 125,000 141,000 169,000 2 3. 4 186,000 184,000 169,000 161,000 155,000 181,000 200,000 6 7 120,000 223,000 What would be the equilibrium quantity in the market for corn? a) 223,000 O b) 3.5 Oc) 103,000 O d) 200,000 O e) 169,000
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Use the following table to answer the next five questions.
Market for Corn
Price Quantity Demanded Quantity Supplied
$2.00
$2.50
$3.00
$3.50
$4.00
$4.50
$5.00
Year
200,000
100,000
2
186,000
184,000
125,000
141,000
4
169,000
161,000
155,000
169,000
181,000
200,000
6
7
120,000
223,000
What would be the equilibrium quantity in the market for corn?
a) 223,000
Ob) 3.5
c) 103,000
O d) 200,000
O e) 169,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7a7008e8-ef2c-4ae5-9b63-165629eb5b31%2F9469ad7f-8ee5-4e0e-af40-6f2fe4a4cf4c%2F7xpkf7_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Use the following table to answer the next five questions.
Market for Corn
Price Quantity Demanded Quantity Supplied
$2.00
$2.50
$3.00
$3.50
$4.00
$4.50
$5.00
Year
200,000
100,000
2
186,000
184,000
125,000
141,000
4
169,000
161,000
155,000
169,000
181,000
200,000
6
7
120,000
223,000
What would be the equilibrium quantity in the market for corn?
a) 223,000
Ob) 3.5
c) 103,000
O d) 200,000
O e) 169,000
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