Use the supply and demand data to complete the table. Price Quantity Demanded Quantity Supplied $5 5000 800 10 4000 1200 15 3000 1600 20 2000 2000 25 1000 2400 30 500 3000 Find the equilibrium price and quantit

Use the supply and demand data to complete the table. Price Quantity Demanded Quantity Supplied $5 5000 800 10 4000 1200 15 3000 1600 20 2000 2000 25 1000 2400 30 500 3000 Find the equilibrium price and quantit

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter7: Demand And Supply

Section7.4: Putting Supply And Demand Together

Problem 1R

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Question

Use the supply and demand data to complete the table.

Price	Quantity Demanded	Quantity Supplied
$5	5000	800
10	4000	1200
15	3000	1600
20	2000	2000
25	1000	2400
30	500	3000

Find the equilibrium price and quantity.
The country allows free trade with no restrictions. The free trade price of this good is $10.

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