Figure 3.10 Alt text for Figure 3.10: In figure 3.10, a graph plotting intersecting supply and demand curves illustrates how supply and demand function in competitive markets.
Long description for Figure 3.10: The x-axis is labelled, Quantity, with the values 0, 200, 400, 500, 600, 700 and 800 marked.The y-axis is labelled, Price, with the values 0, 10.00, 15.00, 20.00 and 25.00 dollars marked.Supply Curve S is a straight line which slopes up from the bottom left corner to the top right corner.4 points are plotted along the curve; (200, 10), (400, 15), (600, 20), and (800, 25).Demand curve D is a straight line which slopes down from the top left corner to the bottom right corner.Curve D intersects the S curve at (600, 20), and passes through another point, (800, 10).All plotted points are connected to the corresponding values on the x and y-axis with dotted lines.
-Refer to Figure 3.10.At a price of $25, how many units will be sold?
A)400
B)500
C)600
D)800

Question

Figure 3.10  Alt text for Figure 3.10: In figure 3.10, a graph plotting intersecting supply and demand curves illustrates how supply and demand function in competitive markets.
Long description for Figure 3.10: The x-axis is labelled, Quantity, with the values 0, 200, 400, 500, 600, 700 and 800 marked.The y-axis is labelled, Price, with the values 0, 10.00, 15.00, 20.00 and 25.00 dollars marked.Supply Curve S is a straight line which slopes up from the bottom left corner to the top right corner.4 points are plotted along the curve; (200, 10), (400, 15), (600, 20), and (800, 25).Demand curve D is a straight line which slopes down from the top left corner to the bottom right corner.Curve D intersects the S curve at (600, 20), and passes through another point, (800, 10).All plotted points are connected to the corresponding values on the x and y-axis with dotted lines.
-Refer to Figure 3.10.At a price of $25, how many units will be sold?
A)400 
B)500 
C)600 
D)800

Quizplus · Accepted Answer

At a price of $25, according to the demand curve in Figure 3.10, 500 units will be sold. Demand curves typically show the quantity of goods that consumers are willing to buy at different prices, and at the $25 price point, the curve intersects at 500 units.

Figure 310 Alt Text for Figure 3