Graph 7-5
-In Graph 7-5, for the quantity Q₃, willingness to buy:
A)and willingness to sell are both P₂
B)is P₁ and willingness to sell is P₃
C)and willingness to sell are both P₃
D)is P₃ and willingness to sell is P₂

Question

Graph 7-5 
-In Graph 7-5, for the quantity Q₃, willingness to buy:
A)and willingness to sell are both P₂ 
B)is P₁ and willingness to sell is P₃ 
C)and willingness to sell are both P₃ 
D)is P₃ and willingness to sell is P₂

Quizplus · Accepted Answer

Willingness to buy at quantity Q₃ is represented by the demand curve, which indicates the maximum price buyers are willing to pay at that quantity (P₃). Willingness to sell at Q₃ is represented by the supply curve, indicating the minimum price sellers are willing to accept (P₂).

Graph 7-5 -In Graph 7-5, for the Quantity Q₃, Willingness to Buy