Use the table to answer the question. Price Quantity Demanded $25 $30 $35 $40 $45 (units) 450 420 390 360 330 Quantity Supplied (units) 200 220 240 260 280
Use the table to answer the question. Price Quantity Demanded $25 $30 $35 $40 $45 (units) 450 420 390 360 330 Quantity Supplied (units) 200 220 240 260 280
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Can you help me question 18?
![D
Question 18
Use the table to answer the question.
Price
Quantity
Demanded
$25
$30
$35
$40
$45
$50
$55
$60
O 240 units
What is the equilibrium quantity in this market?
O 100 units
O 300 units
(units)
450
420
390
360
330
300
270
240
O 330 units
Quantity
Supplied
(units)
200
220
240
260
280
300
320
340](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fde56390e-d2c8-45f5-9f83-c95fbb4c473e%2Fa53b660c-5289-4c34-bf38-29765cadac59%2Fe1qv61_processed.jpeg&w=3840&q=75)
Transcribed Image Text:D
Question 18
Use the table to answer the question.
Price
Quantity
Demanded
$25
$30
$35
$40
$45
$50
$55
$60
O 240 units
What is the equilibrium quantity in this market?
O 100 units
O 300 units
(units)
450
420
390
360
330
300
270
240
O 330 units
Quantity
Supplied
(units)
200
220
240
260
280
300
320
340
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
Step 1
Quantity demanded is negatively related to price.
Quantity supplied is positively related to price.
At equilibrium, the quantity demanded and quantity supplied are the same.
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