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12-02-2020
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The table contains information on the price per month and the monthly demand and supply of online music streaming subscriptions. Price Quantity demanded (thousands) Quantity supplied (thousands) $ 11.10 550 400 $ 11.30 490 420 $ 11.50 450 450 $ 11.70 400 520 What are the equilibrium price and quantity?

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ewomazinoade ewomazinoade

13-02-2020

Answer:

$ 11.50

450

Explanation:

Equilibrium price and quantity can be found where the quantity demanded equals the quantity supplied.

Quantity supplied is equal to quantity demanded at a price of $ 11.50 and quantity of 450.

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