Figure 10-3

Bettye Babylon does not charge admission to her arboreal estate, the Hanging Gardens. Due to space limitations, Bettye only allows 200 visitors per day at her estate. The figure represents the supply and demand for admission to the Hanging Gardens.
-Refer to Figure 10-3.At a price of ________, there is neither a shortage nor surplus of tickets.

Question

Figure 10-3
  
Bettye Babylon does not charge admission to her arboreal estate, the Hanging Gardens. Due to space limitations, Bettye only allows 200 visitors per day at her estate. The figure represents the supply and demand for admission to the Hanging Gardens.
-Refer to Figure 10-3.At a price of ________, there is neither a shortage nor surplus of tickets.

Quizplus · Accepted Answer

At a price of $10, the quantity demanded equals the quantity supplied, resulting in market equilibrium with no shortage or surplus.

Figure 10-3 Bettye Babylon Does Not Charge Admission to Her Arboreal Estate