Figure 4-15

-Refer to Figure 4-15.Equilibrium price and quantity are,respectively,

Name: Figure 4-15 -Refer to Figure 4-15.Equilibrium price and quantity are,respectively,
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Question

Figure 4-15
 
-Refer to Figure 4-15.Equilibrium price and quantity are,respectively,

Quizplus · Accepted Answer

The equilibrium price is where the demand and supply curves intersect. In this case, it is at $25. The quantity at this price is 400 units, which is the point where the two curves intersect. Therefore, the correct choice is C, $25 and 400 units.

Figure 4-15 -Refer to Figure 4-15.Equilibrium Price and Quantity Are,respectively