Question 2
EasyOriginal questionA market's demand and supply schedules are given.
| Price (₹) | 2 | 4 | 6 | 8 | 10 |
|---|---|---|---|---|---|
| Quantity demanded | 80 | 60 | 40 | 20 | 0 |
| Quantity supplied | 0 | 20 | 40 | 60 | 80 |
What is the equilibrium price?
Show the answer and explanation
CorrectNot quiteAnswer B
Correct answer: B
Explanation
At ₹6, 40 are demanded and 40 supplied: the two match.
- Concept
- Equilibrium from a schedule
- Typical timeTypical
- 40 s
- Your timeYours
- —
Practise this chapter →
Ten questions from Market Equilibrium & Price Controls, at your own pace.