Exhibit 3-1

-Refer to Exhibit 3-1.Equilibrium price and quantity are
A) $2 and 250 units.
B) $4 and 250 units.
C) $2 and 150 units.
D) $6 and 250 units.
E) none of the above

Name: Exhibit 3-1 -Refer to Exhibit 3-1.Equilibrium price and quantity are A) $2 and 250 units. B) $4 and 250 units. C) $2 and 150 units. D) $6 and 250 units. E) none of the above
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Question

Exhibit 3-1
 
-Refer to Exhibit 3-1.Equilibrium price and quantity are
A) $2 and 250 units. 
B) $4 and 250 units. 
C) $2 and 150 units. 
D) $6 and 250 units. 
E) none of the above

Quizplus · Accepted Answer

Equilibrium price is where the supply and demand curves intersect. In this case, that occurs at a price of $4 and a quantity of 250 units.

Exhibit 3-1 -Refer to Exhibit 3-1.Equilibrium Price and Quantity Are