Use the table below to choose the correct answer. The table is a schedule of the supply and demand for coffee (both given in thousands of pounds per month) . 
The equilibrium market price of coffee would be
Definitions:
Point Method
A job valuation technique assigning points to different levels of skills, responsibilities, and other job factors to determine pay structures.
Job Evaluation
A systematic process for assessing the relative worth of jobs within an organization to establish fair compensation.
Benchmark Jobs
Positions within an organization used as a standard or comparison point for determining the value of other jobs and setting salary levels.
Market Comparisons
The process of comparing an organization's compensation levels, benefits, and job functions to similar positions in other companies within the same industry to establish competitive salaries.
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