In Exhibit 113, the equilibrium price of the resource is
A)$16
B)$12
C)$10
D)less than $10
E)unable to tell from the information given

Name: In Exhibit 113, the equilibrium price of the resource is A)$16 B)$12 C)$10 D)less than $10 E)unable to tell from the information given
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Question

In Exhibit 11­3, the equilibrium price of the resource is
A)$16 
B)$12 
C)$10 
D)less than $10 
E)unable to tell from the information given

Quizplus · Accepted Answer

The equilibrium price of the resource is where the supply curve intersects with the demand curve. In Exhibit 11-3, the supply curve intersects with the demand curve at a price of $10, so the equilibrium price is $10.

In Exhibit 11­3, the Equilibrium Price of the Resource Is

In Exhibit 113, the Equilibrium Price of the Resource Is