Question

The next day, you charge $3.50 for each bracelet. You have a supply of 30 bracelets, and exactly 30 customers demand them. At the end of the day, there is no excess demand or excess supply. So, $3.50 must be the _____.

A. equilibrium price
B. supply price
C. demand price

Answer 1

The next day, you charge $3.50 for each bracelet. You have a supply of 30 bracelets, and exactly 30 customers demand them. At the end of the day, there is no excess demand or excess supply. So, $3.50 must be the equilibrium price

the correct answer is the bolded, underlined words. I hope this helps, have a great day, chao!!