Exhibit 11.5

-Refer to Exhibit 11.5,which shows the demand and supply curves of a resource.The equilibrium price of the resource is _____
A)$16.
B)$12.
C)$10.
D)less than $10.
E)between $16 and $10.

Name: Exhibit 11.5 -Refer to Exhibit 11.5,which shows the demand and supply curves of a resource.The equilibrium price of the resource is _____ A)$16. B)$12. C)$10. D)less than $10. E)between $16 and $10.
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Question

Exhibit 11.5
 
-Refer to Exhibit 11.5,which shows the demand and supply curves of a resource.The equilibrium price of the resource is _____
A)$16. 
B)$12. 
C)$10. 
D)less than $10. 
E)between $16 and $10.

Quizplus · Accepted Answer

At the point where the demand and supply curves intersect, the equilibrium price is $10.

Exhibit 11.5 -Refer to Exhibit 11.5,which Shows the Demand and Supply Curves