In the supply-and-demand schedule shown above, the equilibrium price for portable music players is _____.
2 answers:
$150 because the supply number is equivalent to the demand number
Answer:
$150
Explanation:
Equilibrium price occurs at the point when the supply and demand of the product equals.
For example: Quantity of pens demanded in the market is 250, and Quantity supplied in the market is 250 as well.
With the same logic we can conclude that: At $150 the demand and supply of music players equals hence, it is the equilibrium price.
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Step-by-step explanation:
PEMDAS
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