Figure 10-4

-Refer to Figure 10-4.Without government intervention,the equilibrium quantity would be
A)Q₁.
B)Q₂.
C)Q₃.
D)Q₄.

Question

Figure 10-4
 
-Refer to Figure 10-4.Without government intervention,the equilibrium quantity would be
A)Q₁. 
B)Q₂. 
C)Q₃. 
D)Q₄.

Quizplus · Accepted Answer

Without government intervention, the equilibrium quantity would be at the intersection of the demand curve and the supply curve, which is at point Q₃. This is where the quantity demanded by consumers is equal to the quantity supplied by producers, resulting in a market equilibrium.

Figure 10-4 -Refer to Figure 10-4.Without Government Intervention,the Equilibrium Quantity Would Be