-Refer to the above figure. The equilibrium price and quantity are
A) $2 and 12 units.
B) $6 and 9 units.
C) $8 and 6 units.
D) $10 and 1 unit.

Name: -Refer to the above figure. The equilibrium price and quantity are A) $2 and 12 units. B) $6 and 9 units. C) $8 and 6 units. D) $10 and 1 unit.
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Question

-Refer to the above figure. The equilibrium price and quantity are
A) $2 and 12 units. 
B) $6 and 9 units. 
C) $8 and 6 units. 
D) $10 and 1 unit.

Quizplus · Accepted Answer

The equilibrium price and quantity occur where the supply and demand curves intersect, which is at $6 and 9 units. This point ensures that the quantity supplied equals the quantity demanded.

-Refer to the Above Figure