The table gives the demand and supply schedules for mechanical pencils. Quantity demanded Quantity supplied (per day) Price What is the equilibrium price of a mechanical pencil and the equilibrium quantity of mechanical pencils per day? (dollars per pencil) (per day) 1 200 40 2 180 60 The equilibrium quantity of mechanical pencils is a day. 160 80 4 140 100 The equilibrium price is $ a mechanical pencil. 5 120 120 6. 100 140

The table gives the demand and supply schedules for mechanical pencils. Quantity demanded Quantity supplied (per day) Price What is the equilibrium price of a mechanical pencil and the equilibrium quantity of mechanical pencils per day? (dollars per pencil) (per day) 1 200 40 2 180 60 The equilibrium quantity of mechanical pencils is a day. 160 80 4 140 100 The equilibrium price is $ a mechanical pencil. 5 120 120 6. 100 140

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter4: The Market Forces Of Supply And Demand

Section: Chapter Questions

Problem 8PA

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Similar questions

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