Question

Refer to Table 3.1 to answer the following question

Table 3.1 Individual Demand and Supply Schedules

Quantity Demanded by
Price	Alejandro	Ben	Carl	Market
$8.00	8	4	2	_____
6.00	12	4	4	_____
4.00	20	4	6	_____
2.00	22	4	6	_____

Quantity Supplied by
Price	Avery	Brandon	Cassandra
$8.00	60	4	6	_____
$6.00	42	4	4	_____
$4.00	24	4	2	_____
$2.00	6	4	0	_____

In Table 3.1, the equilibrium market quantity is

Multiple Choice

• 14.

• 22.

• 30.

• 70.

Answer 1

Quantity Demanded by

price	A	B	C	Market
8	8	4	2	14
6	12	4	4	20
4	20	4	6	30
2	22	4	6	32

Market demand= A+B+C

Quantity Supplied by

price	A	B	C	Market
8	60	4	6	70
6	42	4	4	50
4	24	4	2	30
2	6	4	0	10

Market supply = A+B+C

In Table 3.1,the equilibrium market quantity is

30.

Explanation:

equilibrium quantity is where the quantity demanded and quantity supplied are equal.