Question: Supply and demand data are in Tables 6.3 and 6.4. (a) Which table shows supply and which shows demand? (b) Estimate the equilibrium price and

Supply and demand data are in Tables 6.3 and 6.4.

Table 6.3 q (quantity) p (S/unit) 60 50 50 Table 6.4 0

(a) Which table shows supply and which shows demand?
(b) Estimate the equilibrium price and quantity.
(c) Estimate the consumer and producer surplus.

Table 6.3 q (quantity) p (S/unit) 60 50 50 Table 6.4 0 100 200 300 400 500 q (quantity) p ($/unit) 600 41 32 25 20 17 0 100 200 300 400 500 10 10 14 600 18 22 25 28 34

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