Colonel's Burgers sells 2500 of its flagship burger,Colonel's Treat,each month at a price of $10 each.The customers are willing to buy 2500 Colonel's Treat burgers each month at the same price.Hence,the price of $10 per burger is the ________.
A) sunk cost
B) break-even price
C) equilibrium price
D) opportunity cost
E) incremental cost

Question

Quizplus · Accepted Answer

A)The point at which demand and supply are equal is known as the equilibrium point. At the equilibrium price point, customers are willing to buy as many burgers as Colonel's Burgers is willing to sell.
B)The point at which demand and supply are equal is known as the equilibrium point. At the equilibrium price point, customers are willing to buy as many burgers as Colonel's Burgers is willing to sell.
C)The point at which demand and supply are equal is known as the equilibrium point. At the equilibrium price point, customers are willing to buy as many burgers as Colonel's Burgers is willing to sell.
D)The point at which demand and supply are equal is known as the equilibrium point. At the equilibrium price point, customers are willing to buy as many burgers as Colonel's Burgers is willing to sell.
E)The point at which demand and supply are equal is known as the equilibrium point. At the equilibrium price point, customers are willing to buy as many burgers as Colonel's Burgers is willing to sell.

Colonel's Burgers Sells 2500 of Its Flagship Burger,Colonel's Treat,each Month