Price D 1 D 2 S 1 S 2 $12 5 9 19 14 $10 8 12 17 12 $8 11 15 15 10 $6 13 18 13 8 $4 16 21 11 6 $2 18 24 9 4 Refer to Table 3-1. If D2 and S2 represent the demand and supply schedules in a particular market, then the equilibrium price and quantity are ________ and _________, respectively. Group of answer choices $12; 12 $10; 12 $8; 15 $6; 18

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Price

D 1

D 2

S 1

S 2

$12

5

9

19

14

$10

8

12

17

12

$8

11

15

15

10

$6

13

18

13

8

$4

16

21

11

6

$2

18

24

9

4

Refer to Table 3-1. If D2 and S2 represent the demand and supply schedules in a particular market, then the equilibrium price and quantity are ________ and _________, respectively.
Group of answer choices
$12; 12
$10; 12
$8; 15
$6; 18
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