Question

Price	D 1	D 2	S 1	S 2
$12	5	9	19	14
$10	8	12	17	12
$8	11	15	15	10
$6	13	18	13	8
$4	16	21	11	6
$2	18	24	9	4

Table 2

If D₂ and S₂ represent the demand and supply schedules in a particular market, then the equilibrium price and quantity are ________ and _________, respectively.

$10; 12

$6; 18

$8; 15

$12; 12

Answer 1

D2 and S2 are the demand and supply schedule in the market

so the equilibrium quantity is where D=S = 12 and the equilibrium price = 10

option(A)