Use the following to answer questions:
Figure: Price and Quantity 1
-(Figure: Price and Quantity 1) In the diagram, at which price is quantity demanded equal to the quantity supplied?
A) $40
B) $50
C) $60
D) $80

Question

Use the following to answer questions:
Figure: Price and Quantity 1 
-(Figure: Price and Quantity 1) In the diagram, at which price is quantity demanded equal to the quantity supplied?
A) $40 
B) $50 
C) $60 
D) $80

Quizplus · Accepted Answer

At a price of $50, the quantity demanded and quantity supplied meet at point E, which represents the equilibrium point. This is where the market is in balance, and the quantity demanded equals the quantity supplied.

Use the Following to Answer Questions