In the table, shown again to the right, there is no price at which demand and supply are equal. However, we can see that at prices of $3 and below, Quantity Demanded is greater than Quantity Supplied; but at prices of $4 and up, supply is greater than demand. This means that the equilibrium price has to lie between $3 and $4. The only price in that range is $3.40.
| Supply and Demand for Ice Cream | ||
|---|---|---|
| Price | Q. Demanded | Q. Supplied |
| $1.00 | 100 | 25 |
| $2.00 | 95 | 50 |
| $3.00 | 90 | 75 |
 |
|
|
| $4.00 | 85 | 100 |
| $5.00 | 80 | 125 |
