Figure 3-5
-According to Figure 3-5,market equilibrium for CDs is at point

Name: Figure 3-5 -According to Figure 3-5,market equilibrium for CDs is at point
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Question

Figure 3-5 
-According to Figure 3-5,market equilibrium for CDs is at point

Quizplus · Accepted Answer

Market equilibrium occurs where the supply and demand curves intersect. In Figure 3-5, this intersection happens at point C, where the quantity demanded is equal to the quantity supplied, and the price is $10. At any other point, there would be either a surplus or a shortage in the market. Thus, the best choice is D) C).

Figure 3-5 -According to Figure 3-5,market Equilibrium for CDs Is at Point