Refer the Following Table Showing the Quantity of Toothpastes That

question 38

Essay

Refer the following table showing the quantity of toothpastes that are demanded at different prices. Identify the price (as shown in the first column below in the table) that represents the market clearing. $$\begin{array} { c c c } \begin{array} { c } \text { Price } \\\text { (US\$/tube) }\end{array} & \begin{array} { c } \text { Quantity demanded } \\\text { (thousands of tubes) }\end{array} & \begin{array} { c } \text { Quantity supplied } \\\text { (thousands of tubes) }\end{array} \\20 & 5 & 20 \\16 & 8 & 16 \\13 & 12 & 12 \\8 & 15 & 8 \\5 & 17 & 5 \\4 & 18 & 3\end{array}$$

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