the following table shows information on the conditions Ma Learning ollowing tab
ID: 1139852 • Letter: T
Question
the following table shows information on the conditions Ma Learning ollowing table shows information on the conditions of demand and supply for online music files, where quantity of online music is measured in thousands of mp3 files. Quantity Demanded Quantity Supplied (thousands) 245 205 155 75 Price $0.65 $0.85 $1.05 $1.25 (thousands) 175 205 275 405 1. What is the quantity demanded at $1.05? 2. What is the quantity supplied at $1.05? Number Number Quantity demanded: thousand Quantity supplied: thousand Number 3. At what price is the quantity supplied equal to 175.000?Explanation / Answer
a) At the price of $1.05 quantity demanded is 155.
b) Quantity supplied at the price of $1.05 is 275.
c) at the price of $0.65 quantity supplied is equal to 175,000.
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