4.4k views
1 vote
In the supply-and-demand schedule shown above, the equilibrium price for portable music players is _____.

$100
$150
$250

In the supply-and-demand schedule shown above, the equilibrium price for portable-example-1

2 Answers

4 votes
$150 because the supply number is equivalent to the demand number
User Asantaballa
by
7.7k points
3 votes

Answer:

$150

Step-by-step explanation:

Equilibrium price occurs at the point when the supply and demand of the product equals.

For example: Quantity of pens demanded in the market is 250, and Quantity supplied in the market is 250 as well.

With the same logic we can conclude that: At $150 the demand and supply of music players equals hence, it is the equilibrium price.

User Clemzd
by
8.4k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.