Gradebo Print Calculator Periodic Table Question 14 of 30 ncorrectIncorrect Map

Question

Gradebo Print Calculator Periodic Table Question 14 of 30 ncorrectIncorrect Map de The following table shows information on the conditions of demand and supply for online music files, where the quantity of online music is measured in thousands of mp3 files Price Quantity Demanded Quantity Supplied (thousands) So.75 So.95 $1.15 S1.35 What are the equilibrium price and quantity? Equilibrium quantilty 255 dqubrim price$095 There is a hint available drvider bar again to hide the MacBook Air FIO F7 F5 0

Explanation / Answer

Equilibrium is where Quantity demanded equals quantity supplied. This occurs at Q = 255 and P = 1.15. Thus equilibrium Quantity = 255 thousand Equilibrium Price = $ 1.15

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