Figure 3-4
-In Figure 3-4,at which price is there equilibrium?

Name: Figure 3-4 -In Figure 3-4,at which price is there equilibrium?
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Question

Figure 3-4 
-In Figure 3-4,at which price is there equilibrium?

Quizplus · Accepted Answer

Equilibrium is the point where demand and supply intersect. In this graph, the point of intersection is at P2, which is the equilibrium price. At this price, the quantity demanded (Q2) equals the quantity supplied (Q2). Therefore, the best choice is C.

Figure 3-4 -In Figure 3-4,at Which Price Is There Equilibrium