Question: Consider the market for tablets represented by the graph below. Price $1,200 $1,000 $800 $600 $400 $200 $- 0 100 200 300 400 Quantity

Consider the market for tablets represented by the graph below. Price $1,200

Consider the market for tablets represented by the graph below. Price $1,200 $1,000 $800 $600 $400 $200 $- 0 100 200 300 400 Quantity in thousand per month 500 600 What is the market equilibrium price and quantity? If the market price were set at $600, describe what the consequences would be in the market.

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