- Refer to the above graph. At price level P₂: A) the quantity of output supplied is constant. B) the quantity of output supplied is equal to the quantity of output demanded. C) the quantity of output supplied is greater than the quantity of output demanded. D) the quantity of output supplied is less than the quantity of output demanded.

Question

Quizplus · Accepted Answer

At price level P2, the graph indicates that the quantity of output supplied equals the quantity of output demanded, suggesting market equilibrium at this price.

- Refer to the Above Graph