The table shows the demand and supply schedules for running shoes. What is the equilibrium price and equilibrium quantity of running shoes? The equilibrium price of a pair of running shoes is 90.00 and the equilibrium quantity is 700 pairs a week. The quantity demanded and the quantity supplied A. decreases; increases B. increases; increases C. decreases; decreases D. increases; decreases

Question

The table shows the demand and supply schedules for running shoes. What is the equilibrium price and equilibrium quantity of running shoes? The equilibrium price of a pair of running shoes is 90.00 and the equilibrium quantity is 700 pairs a week. The quantity demanded and the quantity supplied A. decreases; increases B. increases; increases C. decreases; decreases D. increases; decreases

Answer 1

To determine the equilibrium price and quantity of running shoes, we need to find the point where the quantity demanded equals the quantity supplied.Given:- Equilibrium price:

90.00, the quantity demanded and the quantity supplied are equal, which means the market is in equilibrium.Therefore, the correct answer is:B. increases; increases

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