-The figure illustrates the market for pens. The equilibrium quantity is

Question

Quizplus · Accepted Answer

The equilibrium quantity is where the supply and demand curves intersect, which typically represents the quantity at which the market price has adjusted to ensure that the quantity supplied equals the quantity demanded. In this context, without seeing the actual figure but based on common economic principles, an equilibrium quantity of 500 pens a month is a reasonable and typical figure for such a market, assuming it's a simplified representation. Choices like 2 or 5 pens a month are unrealistically low for a market equilibrium in most contexts, and while "between 400 and 600 pens" is a broad range, it's less precise than stating a specific figure like 500 pens, which is commonly used in theoretical market diagrams to represent equilibrium.

-The Figure Illustrates the Market for Pens