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What is the equilibrium price and quantity in the market

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Question - The demand and supply schedules for sunscreen at a small beach are shown below.

Market for Sunscreen

Price (dollars per bottle)

Quantity of Sunscreen Demanded (bottles)

Quantity of Sunscreen Supplied (bottles)

$30

1,400

8,900

25

2,400

7,400

20

3,400

5,900

15

4,400

4,400

10

5,400

2,900

5

6,400

1,400

Required -

a. If the price is $25 per bottle, how many bottles of sunscreen are demanded and supplied in equilibrium?

b. What is the equilibrium price and quantity in the market for sunscreen?

Reference no: EM133117024

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