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The widget market is competitive and includes no transaction costs. Five suppliers are willing to sell one widget at the following prices: $62, $50, $40,

The widget market is competitive and includes no transaction costs. Five suppliers are willing to sell one widget at the following prices: $62, $50, $40, $32, and $30 (one seller at each price). Five buyers are willing to buy one widget at the following prices: $12, $18, $30, $32, and $40 (one buyer at each price).

For each price shown in the following table, use the given information to enter the quantity demanded and quantity supplied.

Price Quantity Demanded Quantity Supplied
($ per widget) (widgets) (widgets)
$12
$18
$30
$32
$40
$50
$62

In this market, the equilibrium price will be

per widget, and the equilibrium quantity will be widgets.

can you help me understand how to solve this problem

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