In the figure above,the unregulated market equilibrium occurs at a price of ________ a ton and quantity of ________ tons.
A) $100; 4,000
B) $150; 2,000
C) $150; 4,000
D) $225; 4,000
E) $100; 2,000

Question

Quizplus · Accepted Answer

The unregulated market equilibrium occurs at the intersection of the supply and demand curves. The supply curve is upward sloping, and the demand curve is downward sloping. The equilibrium price is the price at which the quantity supplied equals the quantity demanded. The equilibrium quantity is the quantity that is bought and sold at the equilibrium price. In this case, the equilibrium price is $100 per ton, and the equilibrium quantity is 4,000 tons.

In the Figure Above,the Unregulated Market Equilibrium Occurs at a Price