Figure 7-18

-Refer to Figure 7-18.The efficient price is
A) $22, and the efficient quantity is 40.
B) $22, and the efficient quantity is 110.
C) $16, and the efficient quantity is 80.
D) $8, and the efficient quantity is 40.

Question

Figure 7-18
 
-Refer to Figure 7-18.The efficient price is
A) $22, and the efficient quantity is 40. 
B) $22, and the efficient quantity is 110. 
C) $16, and the efficient quantity is 80. 
D) $8, and the efficient quantity is 40.

Quizplus · Accepted Answer

The efficient price and quantity occur where the supply and demand curves intersect, which is at $16 and 80 units.

Figure 7-18 -Refer to Figure 7-18.The Efficient Price Is