When we plot a supply curve and a demand curve for apples on one graph, the point at which the two points intersect is the _____.
A) stable price
B) consumer price index
C) gross product
D) equilibrium price

Question

Quizplus · Accepted Answer

The point at which the supply and demand curves intersect is known as the equilibrium price. This is the price at which the quantity of apples supplied matches the quantity of apples demanded in the market, resulting in a stable market price.

When We Plot a Supply Curve and a Demand Curve