Question: The answers that you wrote for E is incorrect please give me the correct equilibrium price and equilibrium quantity Homework Question 17, 3.CQL.2 08/06/25 7:26
The answers that you wrote for E is incorrect please give me the correct equilibrium price and equilibrium quantity
Homework Question 17, 3.CQL.2 08/06/25 7:26 Part 5 of 5 HW Score: 99.02%, 16.83 of 17 points V The monthly supply S(p) and demand D(p) for a Points: 0.83 of 1 video game console is given by the graphs. Complete parts a-e below. 4000- 3500 3000- 2500- Quantity, 2000- 1500- 1000 500 S(p) 200 400 600 800 Selling price per unit, p X Try again. Both of your answers are incorrect. Find the intersection point (p, q) of the graph of S(p) and D(p). The value of p represents the equilibrium price and the value of q represents the equilibrium quantity. Alternatively, set the equations equal to each pliers willing to make? How many consoles are consumers willing to buy? At the price of $500 is there other and solve for p to find the equilibrium price. Substitute the equilibrium price into S(p) or D(p) to find the equilibrium quantity. rchase 1900 consoles, so there is a shortage of consoles in the market. ppliers willing to make? How many consoles are consumers willing to buy? At the price of $800 is there OK rchase 1400 consoles, so there is a surplus of consoles in the market. e) What is the equilibrium price? What is the equilibrium quantity? The equilibrium price is $ 400 per console. (Round to the nearest cent as needed.) Check answer The equilibrium quantity is 2000 consoles. Clear all (Round to the nearest integer.)Step by Step Solution
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