Question

At the price of K5.00, demand is 40 million and supply is 40 million (equilibrium).
Calculate the total expenditure of the households at the equilibrium price.

Answers

GPT 3.5
Total expenditure = Price x Quantity

Total expenditure = K5.00 x 40 million
Total expenditure = K200 million

Therefore, the total expenditure of the households at the equilibrium price is K200 million.