38 Refer to the accompanying table to answer the next six questions.Quantity ofMonthly Rent Apartment Demanded Apartments Supplied78,10083,76087,90094,25098,450118,500125,600Quantity of$1,500$1,550$1,600$1,650$1,700$1,750136,500112,750107,000100,10098,45095,00092,800$1.800What is the market equilibrium quantity of apartments rented?O a) 112,750O b) 125,600Oc) 107,000O d) 98,450O e) 118,500

Equilibrium in the market occurs at the intersection of demand and supply curves.

Refer to the accompanying table to answer the next six questions. Quantity of Quantity of Monthly Rent Apartment Demanded Apartments Supplied $1,500 $1,550 $1,600 $1,650 $1,700 $1,750 $1,800 136,500 112,750 78,100 83,760 87,900 94,250 107,000 100,100 98,450 95,000 92,800 98,450 118,500 125,600 What is the market equilibrium quantity of apartments rented? O a) 112,750 O b) 125,600 Oc) 107,000 d) 98,450 O e) 118,500

Refer to the accompanying table to answer the next six questions. Quantity of Quantity of Monthly Rent Apartment Demanded Apartments Supplied $1,500 $1,550 $1,600 $1,650 $1,700 $1,750 $1,800 136,500 112,750 78,100 83,760 87,900 94,250 107,000 100,100 98,450 95,000 92,800 98,450 118,500 125,600 What is the market equilibrium quantity of apartments rented? O a) 112,750 O b) 125,600 Oc) 107,000 d) 98,450 O e) 118,500

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter5: Buying The Necessities

Section5.2: Cloting Choices

Problem 1R

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