Below is the total market demand and supply of wine for France and Germany.Quantities are in millions of litres per month.

-Refer to the information above to answer this question.Assuming no trade,what are the equilibrium price and quantity of wine in France?

Question

Below is the total market demand and supply of wine for France and Germany.Quantities are in millions of litres per month.
 
-Refer to the information above to answer this question.Assuming no trade,what are the equilibrium price and quantity of wine in France?

Quizplus · Accepted Answer

To find the equilibrium price and quantity, we need to locate the point where the demand and supply curves intersect. From the given graph, we can see that the demand curve for France intersects with the supply curve at a quantity of 15 million litres per month and a price of €6. Therefore, the equilibrium price and quantity of wine in France are €6 and 15 million litres per month, respectively. Choice C is the correct answer.

Below Is the Total Market Demand and Supply of Wine