Suppose the current price of a good is $195. At this price, the quantity supplied is 160 units, and the quantity demanded is 200 units. For every $1 increase in price, the quantity supplied increases by 3 units and the quantity demanded decreases by 5 units. At the current price, the quantity demanded is than the quantity supplied. This means that the market is currently experiencing a . In order to adjust, the market price will until the quantity demanded and quantity supplied are equal. The result is an equilibrium quantity of and an equilibrium price of $ .

• eqm Q = 175

• eqm P = $ 190

Explanation:

At current price,  Quantity Demanded is less than Quantity supplied

As Qd = 200, Qs = 160

• so market is currently experiencing a deficiency, as Qd > Qs

•so to adjust, market price will incraese,

so that Quantity Demanded decrease & Quantity supplied increases, till Qd = Qs

• eqm Q = 175

• eqm P = $ 190

As if P falls by 1, then P = 194

Qd = 200 minus 5= 195

Qs = 160 plus 3= 163

If P = 193, Qd = 190, Qs = 166

If P = 191, Qd = 180, Qs = 172

P = 190, Qd = 175, Qs = 175

(a) when insurance is obtained through a reciprocal insurer, the insureds are sharing the risk of loss with other subscribers of that reciprocal.

i really hope this answer you out! it makes my day people like you and giving back to the community that has me through school! if you could do me a favor, if this you and this is the very best answer and you understand that all of my answers are legit and top notch. mark as brainliest! and have a awesome day!