A-LevelEconomicsThe price system and the microeconomy9708/12 · Feb/Mar 2018 · Q91 Mark
The market demand for a product is made up of the demand from three firms, X, Y and Z. The table shows the demand from each firm and the market supply. price $ demand from X demand from Y demand from Z market supply 7 3300 3300 3300 3300 8 3100 2900 3100 6200 9 2800 2500 2900 8200 10 2500 2100 2700 10000 What is the equilibrium price in the market?
A$7
B$8
C$9
D$10
✓ Correct answer
C: $9
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