Use the figure below to answer the following question(s). Figure 3-9
In Figure 3-9, if D and S represent the demand and supply for gasoline, what is the equilibrium price and quantity?

Question

Use the figure below to answer the following question(s). Figure 3-9
 In Figure 3-9, if D and S represent the demand and supply for gasoline, what is the equilibrium price and quantity?

Quizplus · Accepted Answer

The equilibrium point is where the demand and supply curves intersect. In this case, it occurs at a price of $2 and a quantity of 30.

Use the Figure Below to Answer the Following Question(s)