Question
Market for Sunscreen Price (dollars per bottle) Quantity of Sunscreen Demanded (bottles) Quantity of Sunscreen Supplied (bottles) $25 1,000 2,500 20 2,000 2,000 15 3,000
Market for Sunscreen
Price (dollars per bottle) | Quantity of Sunscreen Demanded (bottles) | Quantity of Sunscreen Supplied (bottles) |
| $25 | 1,000 | 2,500 |
| 20 | 2,000 | 2,000 |
| 15 | 3,000 | 1,500 |
| 10 | 4,000 | 1,000 |
| 5 | 5,000 | 500 |
| 0 | 6,000 | 0 |
Instructions: Enter your answers as a whole number.
a. If the price is $25 per bottle,how many bottles of sunscreen are demanded and supplied in equilibrium?
Qd = bottles
Qs = bottles
In this case, there would be (Click to select) no upward downward pressure on the price.
b.What isthe equilibrium price and quantity in the market for sunscreen?
P =$
Q = bottles
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Econometric Analysis
Authors: William H. Greene
5th Edition
130661899, 978-0130661890
