Question

Find the equilibrium price for the T-shirts at this concert. The equilibrium price is $(Round to the nearest dollar as needed).

(a) $20
(b) $25
(c) $30
(d) $35

Answer 1

To find the equilibrium price for the T-shirts at the concert, we need to know the quantity of T-shirts demanded and supplied at different prices. This information is necessary to determine the point of intersection between the demand and supply curves, which represents the equilibrium price.

Step-by-step explanation:

In order to find the equilibrium price for the T-shirts at the concert, we need more information. The equilibrium price is determined by the intersection of the demand and supply curves. We need to know the quantity of T-shirts demanded and supplied at different prices in order to find the equilibrium price.

Once we have this information, we can plot the demand and supply curves on a graph and find the point at which they intersect. This intersection represents the equilibrium price, where the quantity demanded equals the quantity supplied.

Without this information, we cannot determine the equilibrium price for the T-shirts at the concert.