Use the accompanying figure to answer the following question
-The intersection of the two lines (the middle of the "X")on the graph represents _____________.
A)market equilibrium
B)the maximum price buyers will pay for goods and services
C)the maximum quantity of goods and services that a company can produce
D)the minimum price buyers will pay for goods and services
E)the minimum quantity of goods and services that a company can produce

Question

Use the accompanying figure to answer the following question
-The intersection of the two lines (the middle of the "X")on the graph represents _____________.
A)market equilibrium 
B)the maximum price buyers will pay for goods and services 
C)the maximum quantity of goods and services that a company can produce 
D)the minimum price buyers will pay for goods and services 
E)the minimum quantity of goods and services that a company can produce

Quizplus · Accepted Answer

The intersection of the two lines on the graph represents market equilibrium, where the quantity demanded by consumers is equal to the quantity supplied by producers, resulting in an agreed upon price for the goods and services being exchanged.

Use the Accompanying Figure to Answer the Following Question