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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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