Price Quantity Demanded Quantity Supplied (Dollars per pair of shoes) (Pairs of shoes) (Pairs of shoes)
20 1,100 200
40 900 400
60 800 500
80 600 900
100 500 1,200
Based on the table above, what is the equilibrium price?
(a) $20
(b) $40
(c) $60
(d) $80