Refer to the information provided in Figure 34.4 below to answer the question(s) that follow.
Figure 34.4
-Refer to Figure 34.4. If the demand and supply of pounds are D1 and S1, the equilibrium is
A) $2.50 per pound and the quantity is 400 pounds.
B) $2.00 per pound and the quantity is 500 pounds.
C) 2 pounds per $ and the quantity is 500 pounds.
D) $1.50 per pound and the quantity is 300 pounds.
Correct Answer:
Verified
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