Assume gasoline is sold in a competitive market, the equilibrium price is $50 per barrel, and the equilibrium quantity is 1000 barrels.

asked Aug 10, 2023 61.2k views

9 votes

4.4k points

Please log in or register to add a comment.

12 votes

Answer:

The answer is 5000 Barrels.

Explanation:

If a barrel is $50, you do 50 times 1000 and you get 5000 barrels.

Deodat answered Aug 16, 2023

4.5k points

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

4.5m questions

5.9m answers