Quantity Demanded Price Quantity Supplied 5 $7 9 6 6 8 7 5 7 8 4 6 9 3 5 10 2 4
ID: 1192390 • Letter: Q
Question
Quantity Demanded
Price
Quantity Supplied
5
$7
9
6
6
8
7
5
7
8
4
6
9
3
5
10
2
4
11
1
3
$3 and 13 units
$4 and 12 units
$5 and 11 units
$6 and 10 units
Quantity Demanded
Price
Quantity Supplied
5
$7
9
6
6
8
7
5
7
8
4
6
9
3
5
10
2
4
11
1
3
Refer to the table above. If demand increased by 4 units at each price, and supply increased by 2 units at each price, what would the new equilibrium price and quantity be? a.$3 and 13 units
b.$4 and 12 units
c.$5 and 11 units
d.$6 and 10 units
Explanation / Answer
$6 and 10 units