Refer to Table 4-6. The equilibrium price and quantity, respectively, are

A) $6 and 45 units.
B) $9 and 30 units.
C) $9 and 40 units.
D) $12 and 30 units.

Equilibrium Price

The price at which the quantity of goods supplied equals the quantity of goods demanded in a market, resulting in no surplus or shortage.

Equilibrium Quantity

The level of goods or services on offer and needed at the market's equilibrium price.