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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
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To determine the equilibrium price and quantity of running shoes, we need to find the point where the quantity demanded equals the quantity supplied.<br /><br />Given:<br />- Equilibrium price: $90.00<br />- Equilibrium quantity: 700 pairs per week<br /><br />At the equilibrium price of $90.00, the quantity demanded and the quantity supplied are equal, which means the market is in equilibrium.<br /><br />Therefore, the correct answer is:<br />B. increases; increases
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