The following graph shows the demand and supply curves of a resource. The equilibrium amount of the resource exchanged in the market is _____. Figure 11.4

A)more than 100 units
B)100 units
C)60 units
D)less than 60 units
E)between 60 and 100 units

Question

​The following graph shows the demand and supply curves of a resource. The equilibrium amount of the resource exchanged in the market is _____. Figure 11.4

A)more than 100 units 
B)100 units 
C)60 units 
D)less than 60 units 
E)between 60 and 100 units

Quizplus · Accepted Answer

The equilibrium amount where demand and supply intersect is at 100 units. Therefore, this is the amount of the resource exchanged in the market.

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

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