Price 12 S10 8 6 4 2 Di D2 Sl 19 17 15 13 S2 14 12 10 12 15

Price $12 S10 $8 $6 $4 $2 Di D2 Sl 19 17 15 13 S2 14 12 10 12 15 13 16 18 21 24 Table 5-1 Refer to Table 5-1. If Dl and S1 represent the demand and supply schedules in a particular market, then the equilibrium price and quantity are -and , respectively. O A. $4; 11 0 B. $4:16 O c. $6; 13 O D. $8; 15 Reset Selection

Solution

If D1 and S1 represent the demand and supply schedule in a particular market, then equilibrium price = $6 and equilibrium quantity = 13 units. Because at $6 , D1 =S1. Hence, option (C) is correct.