-The intersection of the two lines on the graph represents_________ .
A)the convergence point,which is the point at which the supply and demand curves converge
B)the equilibrium point,which is the price at which consumers are willing to pay given the quantity that producers are willing to make
C)the convergence point,which is the quantity that consumers will buy when the product costs a certain amount
D)the equilibrium point,which is the quantity of product a manufacturer is willing to produce in a declining economy

Question

-The intersection of the two lines on the graph represents_________ .
A)the convergence point,which is the point at which the supply and demand curves converge 
B)the equilibrium point,which is the price at which consumers are willing to pay given the quantity that producers are willing to make 
C)the convergence point,which is the quantity that consumers will buy when the product costs a certain amount 
D)the equilibrium point,which is the quantity of product a manufacturer is willing to produce in a declining economy

Quizplus · Accepted Answer

The intersection of the two lines on the graph represents the equilibrium point, which is the price at which the quantity demanded by consumers is equal to the quantity supplied by producers. This is the point at which the market is in balance and there is no excess supply or demand. Therefore, option B is the best choice.

-The Intersection of the Two Lines on the Graph Represents_________