Exhibit 4-10 Supply and demand data for apricots In Exhibit 4-10, the equilibrium price is:

Question

Exhibit 4-10  Supply and demand data for apricots  In Exhibit 4-10, the equilibrium price is:

Quizplus · Accepted Answer

At the intersection of the supply and demand curves, the equilibrium price is $2. This is where the quantity of apricots supplied equals the quantity of apricots demanded by consumers. Any price above the equilibrium price would result in a surplus of apricots, while any price below the equilibrium price would result in a shortage of apricots. Therefore, the best choice is B.

Exhibit 4-10 Supply and Demand Data for Apricots in Exhibit