(Figure: Determining Aggregate Equilibrium Levels) Equilibrium output is ________ and the equilibrium price level is ________.

Question

(Figure: Determining Aggregate Equilibrium Levels)  Equilibrium output is ________ and the equilibrium price level is ________.

Quizplus · Accepted Answer

In the given figure, the equilibrium output is where the aggregate demand curve (AD) intersects the aggregate supply curve (AS), which is at a level of 3,000. The equilibrium price level is given by the vertical line at the point of intersection of AD and AS, which is at a level of 100. Therefore, the best choice is C, where equilibrium output is 3,000 and the equilibrium price level is 100.

(Figure: Determining Aggregate Equilibrium Levels) Equilibrium Output Is ________