Exhibit 3-6 Milk Market In Exhibit 3-6, Which of the Following Are the Equilibrium

question 151

Multiple Choice

Exhibit 3-6 Milk market $$\begin{array} { | c | c | c | } \hline \text { Price per Quart } & \begin{array} { c } \text { Quantity Demanded } \\\text { (Quarts per week) }\end{array} & \begin{array} { c } \text { Quantity Supplied } \\\text { (Quarts per week) }\end{array} \\\hline 0.70 & 20 & 180 \\0.60 & 60 & 140 \\0.50 & 100 & 100 \\0.40 & 140 & 60 \\0.30 & 180 & 20 \\& & \\\hline\end{array}$$ In Exhibit 3-6, which of the following are the equilibrium price and equilibrium  quantity in the milk market?

• A) $0.70 per quart and 200 quarts of milk.
• B) $0.30 per quart and 100 quarts of milk.
• C) $0.50 per quart and 100 quarts of milk.
• D) $0.40 per quart and 60 quarts of milk.

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