Quantity Demanded Price $3.00 $6.00 $9.00 $12.00 $15.00 $18.00 $21.00 $24.00 $27.00 Quantity Supplied 225 200 175 150 125 100 75 50 25 20 40 60 80 100 120 140 160 The demand and supply schedules for hats are above. Plot both in the area below. Find the equilibrium price and quantity.

Economics For Today
10th Edition
ISBN:9781337613040
Author:Tucker
Publisher:Tucker
Chapter3: Market Demand And Supply
Section3.A: Consumer Surplus, Proudcer Suplus, And Market Efficency
Problem 15SQ
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Question
Quantity Demanded
Price
$3.00
$6.00
$9.00
$12.00
$15.00
$18.00
$21.00
$24.00
$27.00
Quantity Supplied
225
200
175
150
125
100
75
50
25
20
40
60
80
100
120
140
160
The demand and supply schedules for hats are above. Plot both in the area below. Find the equilibrium
price and quantity.
Transcribed Image Text:Quantity Demanded Price $3.00 $6.00 $9.00 $12.00 $15.00 $18.00 $21.00 $24.00 $27.00 Quantity Supplied 225 200 175 150 125 100 75 50 25 20 40 60 80 100 120 140 160 The demand and supply schedules for hats are above. Plot both in the area below. Find the equilibrium price and quantity.
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