What would be the equilibrium price and equilibrium number of services in this market?

What is the efficient number of services, and what is the price at which the efficient number of services could be sold?

Price (dollars per service)	Quantity Demanded (services per day)	Total Revenue (dollars per day)	Marginal Revenue (dollars per service)	Total Cost (dollars per day)	Marginal Cost (dollars per service)	Profit (dollars per day)
130	100	13,000	-	8,500	-	4,500
120	200	24,000	110	12,000	35	12,000
110	400	44,000	100	18,000	30	26,000
100	700	70,000	86.67	46,000	93.33	24,000
95	900	85,500	77.50	65,000	95	20,500

Answer rating: 100% (QA)

The equilibrium price and quantity in a market are determined where ... View the full answer