-The above figure shows a graph of the market for pizzas in a large town.What are the equilibrium price and quantity?
A)p = 8,Q = 60
B)p = 60,Q = 8
C)p = 14,Q = 140
D)p = 5,Q = 60

Question

-The above figure shows a graph of the market for pizzas in a large town.What are the equilibrium price and quantity?
A)p = 8,Q = 60 
B)p = 60,Q = 8 
C)p = 14,Q = 140 
D)p = 5,Q = 60

Quizplus · Accepted Answer

The equilibrium price and quantity are determined at the point where the supply and demand curves intersect. This point represents the price at which the quantity supplied equals the quantity demanded. In the given options, option A (p = 8, Q = 60) correctly identifies this equilibrium point.

-The Above Figure Shows a Graph of the Market for Pizzas