Figure 9-11

-Refer to Figure 9-11.Without trade,what would be the equilibrium price and quantity of carnations

Question

Figure 9-11
 
-Refer to Figure 9-11.Without trade,what would be the equilibrium price and quantity of carnations

Quizplus · Accepted Answer

Without trade, the equilibrium price and quantity are determined at the intersection of the supply and demand curves. In this case, the equilibrium price would be $8 and the equilibrium quantity would be 300 carnations. This can be seen by finding the point where the supply and demand curves intersect on the graph.

Figure 9-11 -Refer to Figure 9-11.Without Trade,what Would Be the Equilibrium Price