Answer: C. 500 units and 800 units
If you check the graph who will find that $25, The quantity demanded line touched at 500units while the quantity supplied line touched at the 800units.
Explanation:
Quantity demanded is the amount that a customer requested from a supplier or a producer at a given time, it is an economic term which tries to show the Relationship between the price of a commodity and the amount requested.
Quantity supplied is the amount which a supplier or a producer was able to give out to a customer at a given price in a given period of time.
Answer:Please refer to the explanation section
Explanation:
The question is incomplete, we need a diagram (graphs) or demand and supply equations to determine the quantity demanded and quantity supplied if the price is $25, to illustrate how to determine quantity demanded and quantity supplied from using equations. Let us assume Quantity Demanded is given by Qd = 800 - 12p and quantity supplied is given by Qs = 20p
Price = $25
Quantity Demanded (Qd) = 800 - 12p
Quantity Demanded (Qd) = 800 - 12(25) = 500 units
Quantity Supplied (Qs) = 20p
Quantity Supplied (Qs) = 20(25) = 500 units
in this case answer would be A
