The figure below shows the supply and demand curves for oranges in Smallville. At the price of $4 per pound, sellers offer ________ pounds of oranges per day, and buyers want to purchase ________ pounds of oranges a day.
A)10; 30
B)10; 20
C)20; 20
D)30; 10

Question

The figure below shows the supply and demand curves for oranges in Smallville.  At the price of $4 per pound, sellers offer ________ pounds of oranges per day, and buyers want to purchase ________ pounds of oranges a day.
A)10; 30 
B)10; 20 
C)20; 20 
D)30; 10

Quizplus · Accepted Answer

At any price, the supply curve tells the quantity sellers wish to sell, and the demand curve tells you the quantity that buyers wish to buy.

The Figure Below Shows the Supply and Demand Curves for Oranges