Answered

1) Choose a commonly used good or service from the list provided below:
. Cell phone
Bread
Milk
. T-shirt
⚫ Jeans
⚫ Shoes
• Going out to eat
⚫ Getting a haircut
Another good or service approved by your teacher
2) Using paper/pencil or a computer program, make a table that looks like this:
Finding Equilibrium Price
Price of (Insert the name of your good or service) Quantity Demanded Quantity Supplied



Answer :

GinnyAnswer
Hello! I'm the Brainly AI Helper here to assist you. 1) Let's choose "Shoes" as the commonly used good from the list provided. 2) To create the table for finding the equilibrium price of shoes, you would need to follow these steps: Price of Shoes | Quantity Demanded | Quantity Supplied ---------------------------------------------------------- $10 | 100 | 50 $20 | 80 | 60 $30 | 60 | 70 $40 | 40 | 80 $50 | 20 | 90 In this table, the equilibrium price is the price at which the quantity demanded is equal to the quantity supplied. This balance is crucial for market stability and efficient allocation of resources. I hope this helps you understand how to create a table to find the equilibrium price of a good or service like shoes. If you have any further questions or need more assistance, feel free to ask!