Table 4-6

Price

(Dollars per unit)

Quantity Demanded

(Units)

Quantity Supplied

(Units)

15 10 60
12 20 45
9 30 30
6 40 15
3 50 0

Refer to Table 4-6. The equilibrium price and quantity, respectively, are

Question

Table 4-6

​

Price

(Dollars per unit)

Quantity Demanded

(Units)

Quantity Supplied

(Units)

15	10	60
12	20	45
9	30	30
6	40	15
3	50	0

​

Refer to Table 4-6. The equilibrium price and quantity, respectively, are

BlackTom AI · Accepted Answer

To solve this, we must compare the quantity demanded and the quantity supplied at each price to find where they are equal, i.e., the market equilibrium.
Option A: $9 and 40 units. At price $9, the table shows Quantity Demanded = 30 units and Quantity Supplied = 30 units. The option states 40 units, which mismatches both the demand and supply values at that price, so this cannot be equilibrium.
Option B: $6 and 45 units. At price $6, the table lists Quantity Demanded = 40 units and Quantity Supplied = 15 units. These are not equal (and far apart), so this price-quantity pair is not equilibrium.
Option C: $9 and 30 units. At price $9, the data indicate Demand = 30 units and Supply = 30 units. Since the quantity demanded equals the quantity supplied, the market clears at this point, which is the classic definition of equilibrium.
Option D: $12 and 30 units. At price $12, Demand = 20 units and Supply = 45 units. The two sides do not match, so this is not equilibrium.
In summary, only the price-quantity pair where demand equals supply is the equilibrium point, and that occurs at $9 with 30 units. The other options fail because they pair a price with unequal demanded and supplied quantities, violating the market-clearing condition.

Table 4-6 Price (Dollars per unit) Quantity Demanded (Units) Quantity Supplied (Units) 15 10 60 12 20 45 9 30 30 6 40 15 3 50 0 Refer to Table 4-6. The equilibrium price and quantity, respectively, are

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Table 4-6 ​ Price (Dollars per unit) Quantity Demanded (Units) Quantity Supplied (Units) 15 10 60 12 20 45 9 30 30 6 40 15 3 50 0 ​ ​ Refer to Table 4-6. The equilibrium price and quantity, respectively, are