Exhibit 11.7

-Refer to Exhibit 11.7,which shows the demand and supply curves of a resource.The equilibrium amount of the resource exchanged in the market is _____

Name: Exhibit 11.7 -Refer to Exhibit 11.7,which shows the demand and supply curves of a resource.The equilibrium amount of the resource exchanged in the market is _____
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Question

Exhibit 11.7
 
-Refer to Exhibit 11.7,which shows the demand and supply curves of a resource.The equilibrium amount of the resource exchanged in the market is _____

Quizplus · Accepted Answer

The equilibrium quantity is where the demand and supply curves intersect, which is at 1000 units in this case. Therefore, the answer is B, 1000 units.

Exhibit 11.7 -Refer to Exhibit 11.7,which Shows the Demand and Supply Curves