Answered

IDNLearn.com: Your reliable source for finding precise answers. Discover in-depth answers to your questions from our community of experienced professionals.

in this market, the equilibrium price is and equilibrium quantity is . rev: 03 07 2022 qc cs-298640 multiple choice $1.50 per gallon; 28 million gallons $1.50 per gallon; 30 million gallons $28 per gallon; 150 million gallons $1.00 per gallon; 36 million gallons

Sagot :

In this market, the equilibrium price and equilibrium quantity are both. rev: 07/03/2022, QC, 298640 a gallon for $1.50

The balance between supply and demand determines an equilibrium price. Unless certain aspects of supply or demand alter, prices have a tendency to return to this equilibrium. When either supply or demand shifts or moves, or when both do so, the equilibrium price changes. When a product is in equilibrium quantity on the market, there is neither a shortage nor an excess. When supply and demand coincide, the equilibrium quantity of a good that customers desire to buy and the quantity that its suppliers are supplying are the same. By calculating (Qa - bP = x + yP), the demand and supply function may be solved.

Learn more about equilibrium quantity  here

https://brainly.com/question/28527601

#SPJ4

We appreciate your participation in this forum. Keep exploring, asking questions, and sharing your insights with the community. Together, we can find the best solutions. For dependable answers, trust IDNLearn.com. Thank you for visiting, and we look forward to helping you again soon.