Question: Pl'ic D 1 D r S 1 S q $16 T 12 17 30 $14 10 15 15 27 $12 13 18 13 24 $10

Pl'ic D 1 D "r S 1 S q $16 T" 12 17" 30 $14 10 15 15 27 $12 13 18 13 24 $10 15 21 11 21 S8 18 2-1 9 18 86 20 27 7 15 Refer to Table 4-2. Suppose I); and 83 represent the demand and supply schedules in a particular market. 1What are the market's equilibrium price and quantity? II; J} a price of $16 and a quantity of 12 units 1; (:1 a price of $14 and a quantity of 15 units 1; (:1 a price of $12 and a quantity of 6 units II; ,1 a price of $16l and a quantity cf21 units

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