This table shows the demand and supply schedule of a good. Price of GoodQDemandQsupply$0.005025$0.504026$1.003528$1.503131$2.002835$2.502740According to the table shown, the equilibrium in this market will occur at:
A. a price of $0.00 and a quantity of 75.
B. a price of $1.50 and a quantity of 62.
C. a price of $1.50 and a quantity of 31.
D. Cannot be determined without more information
Answer: C
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Combinations to the left of the budget line are:
A. Unavailable and inefficient B. Unattainable and efficient C. Attainable and inefficient D. Attainable and efficient
What country is given credit for the birth of the Eurodollar market?
A) the United States B) England C) the Soviet Union D) Japan
Economies of scale arise from:
A. increasing returns to scale. B. constant returns to scale. C. decreasing returns to scale. D. constant marginal returns to scale.
Under which conditions might diseconomies of scale result?
A. hampered coordination brought about by bureaucracy B. decreasing costs of inputs C. increasing output prices D. usage of a large amount of indivisible inputs by the firm