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The demand and supply schedules for sunscreen at a small beach are shown below. Market for Sunscreen Price (dollars per bottle) Quantity of Sunscreen Demanded
The demand and supply schedules for sunscreen at a small beach are shown below.
Market for Sunscreen
Price (dollars per bottle) | Quantity of Sunscreen Demanded (bottles) | Quantity of Sunscreen Supplied (bottles) |
$45 | 3,500 | 8,500 |
40 | 4,500 | 7,000 |
35 | 5,500 | 5,500 |
30 | 6,500 | 4,000 |
25 | 7,500 | 2,500 |
20 | 8,500 | 1,000 |
a. If the price is $25 per bottle,how many bottles of sunscreen are demanded and supplied in equilibrium?
Qd = bottles
Qs = bottles
In this case, there would be (Click to select) upward, downward, or no pressure on the price.
b.What isthe equilibrium price and quantity in the market for sunscreen?
P =$
Q = bottles
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