Table 3-D
Use the Following Information About Demand and Supply

question 186

Multiple Choice

Table 3-D
Use the following information about demand and supply schedules to answer the question.
$$\begin{array} { l c c c } \text { Price } & \mathbf { D } _ { 1 } & \mathbf { D } _ { \mathbf { 2 } } & \boldsymbol { I } _ { \mathbf { 1 } } \\\$ 12 & 5 & 9 & 19 \\\$ 10 & 8 & 12 & 17 \\\$ 8 & 11 & 15 & 15 \\\$ 6 & 13 & 18 & 13 \\\$ 4 & 16 & 21 & 11 \\\$ 2 & 18 & 24 & 9\end{array}$$
-Refer to Table 3-D.If D₁ and S₁ represent the demand and supply schedules in a particular market, the equilibrium price and quantity are ____ and ____, respectively.

• A)$8; 15
• B)$6; 13
• C)$4; 16
• D)$4; 11
• E)None of the above are correct.

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Definitions:

Unusual Scores

Scores that significantly deviate from the norm or average in any type of assessment, indicating atypical performance or results.

Average

A statistical measure representing the central tendency or typical value of a set of numbers, calculated as the sum of the values divided by the number of values.

Correlation Coefficients

Statistical measures that describe the direction and degree of relationship between two or more variables.

Relationship

A connection, association, or involvement between two or more entities.