Figure 4-20
-Refer to Figure 4-20.At a price of $20,which of the following statements is not correct?

Name: Figure 4-20 -Refer to Figure 4-20.At a price of $20,which of the following statements is not correct?
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Question

Figure 4-20 
-Refer to Figure 4-20.At a price of $20,which of the following statements is not correct?

Quizplus · Accepted Answer

At a price of $20, the equilibrium price is not necessarily equal to the equilibrium quantity. Equilibrium price refers to the price at which the quantity demanded equals the quantity supplied, not the numerical equality of price and quantity.

Figure 4-20 -Refer to Figure 4-20.At a Price of $20,which of the $20,which