Use the figure below to answer the following questions.
Figure 3.4.2
-The equilibrium price in the market illustrated by Figure 3.4.2 is

Question

Use the figure below to answer the following questions.
  Figure 3.4.2
-The equilibrium price in the market illustrated by Figure 3.4.2 is

Quizplus · Accepted Answer

The equilibrium price is the point at which the quantity demanded by consumers is equal to the quantity supplied by producers. In this figure, the intersection of the demand and supply curves occurs at a price of $6 a unit. Therefore, B is the correct choice for the equilibrium price.

Use the Figure Below to Answer the Following Questions