Figure 4-22
-Refer to Figure 4-22.What is the equilibrium quantity in this market?

Name: Figure 4-22 -Refer to Figure 4-22.What is the equilibrium quantity in this market?
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Question

Figure 4-22 
-Refer to Figure 4-22.What is the equilibrium quantity in this market?

Quizplus · Accepted Answer

The equilibrium quantity is where the demand and supply curves intersect. In this case, it is at 8 units. At any other quantity, either there will be excess supply or excess demand, leading to a change in the price or quantity supplied/demanded until equilibrium is reached again.

Figure 4-22 -Refer to Figure 4-22.What Is the Equilibrium Quantity in This