Refer to Table 3.1. This market will be in equilibrium if the quantity of pizzas supplied per month is what?
Understand the Problem
The question is asking to use Table 3.1 to determine at what quantity this market will be in equilibrium, which is when the quantity demanded equals the quantity supplied.
Answer
The market will be in equilibrium if the quantity of pizzas supplied per month is 800.
The market will be in equilibrium if the quantity of pizzas supplied per month is 800.
Answer for screen readers
The market will be in equilibrium if the quantity of pizzas supplied per month is 800.
More Information
Market equilibrium occurs when the quantity demanded by consumers equals the quantity supplied by producers. In Table 3.1, this occurs when both the quantity demanded and quantity supplied are 800 pizzas per month.
Tips
A common mistake is to choose the incorrect values from the table. You must compare the quantity demanded and quantity supplied columns to find where they are equal.
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