In the market for used cars we have 10 sellers,willing to sell at the prices of $1000,$2000,$3000,$4000,$5000,$6000,$7000,$8000,$9000,$10000.If the equilibrium price in the market is $2500,how many cars would be sold?

A) 1
B) 2
C) 3
D) 4

Question

​In the market for used cars we have 10 sellers,willing to sell at the prices of $1000,$2000,$3000,$4000,$5000,$6000,$7000,$8000,$9000,$10000.If the equilibrium price in the market is $2500,how many cars would be sold?A) ​1B) 2C) 3D) ​4

Abbas Moledina · Accepted Answer

Final Answer : B, Explanation :  At an equilibrium price of $2500, only the sellers willing to sell at $1000 and $2000 would find buyers, as their asking prices are below or equal to the equilibrium price. This means 2 cars would be sold.

In the market for used cars we have 10 sellers,willing to sell at the prices of $1000,$2000,$3000,$4000,$5000,$6000,$7000,$8000,$9000,$10000.If the equilibrium price in the market is $2500,how many cars would be sold?

A) 1
B) 2
C) 3
D) 4

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​In the market for used cars we have 10 sellers,willing to sell at the prices of $1000,$2000,$3000,$4000,$5000,$6000,$7000,$8000,$9000,$10000.If the equilibrium price in the market is $2500,how many cars would be sold?A) ​1B) 2C) 3D) ​4

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In the market for used cars we have 10 sellers,willing to sell at the prices of $1000,$2000,$3000,$4000,$5000,$6000,$7000,$8000,$9000,$10000.If the equilibrium price in the market is $2500,how many cars would be sold?

A) 1
B) 2
C) 3
D) 4