Exhibit 3-1
Refer to Exhibit 3-1. Equilibrium price and quantity are ____________________, respectively.

Name: Exhibit 3-1 Refer to Exhibit 3-1. Equilibrium price and quantity are ____________________, respectively.
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Question

Exhibit 3-1 
Refer to Exhibit 3-1. Equilibrium price and quantity are ____________________, respectively.

Quizplus · Accepted Answer

The equilibrium point is where the supply and demand curves intersect. In this exhibit, that point is at a price of $4 and quantity of 250 units. Therefore, the correct answer is B) $4 and 250 units.

Exhibit 3-1 Refer to Exhibit 3-1. Equilibrium Price and Quantity Are ____________________