-Equilibrium Price Is _______ and Equilibrium Quantity Is ______

question 52

Multiple Choice

$$\begin{array} { c c c } \text { Price } & \begin{array} { c } \text { Quantity } \\\text { Demanded }\end{array} & \begin{array} { c } \text { Quantity } \\\text { Supplied }\end{array} \\\$ 50 & 50 & 150 \\\$ 40 & 80 & 120 \\\$ 30 & 100 & 100 \\\$ 20 & 120 & 70 \\\$ 10 & 160 & 30\end{array}$$
-Equilibrium price is _______ and equilibrium quantity is ______.

• A)$40;120
• B)$30;120
• C)$30;100
• D)$20;100
• E)$20;50

---

Definitions:

Money

A medium of exchange, in the form of coins and banknotes, used to facilitate transactions.

Food

Any nutritious substance that people or animals eat or drink in order to maintain life and growth.

Secondary Reinforcer

A reinforcer that acquires its positive value through an organism’s experience; a secondary reinforcer is a learned or conditioned reinforcer.

Positive Value

Something that is considered beneficial, desirable, or of worth according to individual or societal standards.