Question
We have the following table for humidifiers: Price Quantity supplied Quantity demanded $200 3,500 1,500 $175 3,000 2,000 $150 2,500 2,500 $125 2,000 3,000 $100
We have the following table for humidifiers:
Price Quantity supplied Quantity demanded
$200 3,500 1,500
$175 3,000 2,000
$150 2,500 2,500
$125 2,000 3,000
$100 1,500 3,500
$75 1,000 4,000
$50 500 4,500
$25 0 5,000
$0 0 5,500
What is the equilibrium price?
Group of answer choices
$75
$100
$150
$175
Use the table from the previous problem. Suppose the government sets a price ceiling of $200. What is the amount bought and sold?
Group of answer choices
0
1,500
2,500
3,500
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