Remaining Time 19 minutes 36 seconds Question Completion Sta

Remaining Time: 19 minutes, 36 seconds. Question Completion Status: Exhibit 3-8 shows demand and supply schedules in the market for apples. Th equilibrium quantity in the market is Exhibit 3-S Quantity Demanded 80 60 10 30 45 10 80 a. 6 b.4 C. 4 d.7 Click Save and Submit to save and submit. Click Save All Ansucers to save all answers. Save All Answers Close Window Save and Submit 8

Solution

Equilibrium in a market is attained when the quantity demanded equals the quantity supplied.

The quantity demanded equals the quantity supplied corresponding to the price of $2 per apple.

So, market is in equilibrium when 45 apples are demanded and supplied at $2 per apple.

Thus, the equilibrium quantity in this market is 45 apples.

Hence, the correct answer is the option (c).