Refer to Table 5-1. If D1 and S1 represent the demand and supply schedules in a particular market, then the equilibrium price and quantity are __________ and __________, respectively.
A. $4; 11
B. $4; 16
C. $6; 13
D. $8; 15
Answer:B
Refer to Table 5-1. If D1 and S1 represent the demand and supply schedules in a particular market, then the equilibrium price and quantity are __________ and __________, respectively.
A. $4; 11 B. $4; 16 C. $6; 13 D. $8; 15
Explanation: 34. Refer to Table 5-1. If D2 and S2 represent the demand and supply schedules in a particular market, then the equilibrium price and quantity are __________ and __________, respectively.