The following graph shows the demand and supply curves of a resource. The equilibrium price of the resource is _____. Figure 11.4

A)$16
B)$12
C)$10
D)less than $10
E)between $16 and $10

Question

​The following graph shows the demand and supply curves of a resource. The equilibrium price of the resource is _____. Figure 11.4

A)$16 
B)$12 
C)$10 
D)less than $10 
E)between $16 and $10

Quizplus · Accepted Answer

The equilibrium price is where the demand and supply curves intersect, which is at $10 in this graph. Therefore, the correct answer is C.

​The Following Graph Shows the Demand and Supply Curves of a Resource