Figure 7-9

-Refer to Figure 7-9.The efficient price is
A)$22 and the efficient quantity is 40.
B)$22 and the efficient quantity is 110.
C)$16 and the efficient quantity is 80.
D)$8 and the efficient quantity is 40.

Question

Figure 7-9
 
-Refer to Figure 7-9.The efficient price is
A)$22 and the efficient quantity is 40. 
B)$22 and the efficient quantity is 110. 
C)$16 and the efficient quantity is 80. 
D)$8 and the efficient quantity is 40.

Quizplus · Accepted Answer

The efficient price and quantity are determined where the supply and demand curves intersect, which is typically at the equilibrium point.

Figure 7-9 -Refer to Figure 7-9.The Efficient Price Is