In the market shown in the graph, the equilibrium price is ___ and the equilibrium quantity is _____.
A) $5; 30
B) $10; 20
C) $20; 10
D) $15; 30

Name: In the market shown in the graph, the equilibrium price is ___ and the equilibrium quantity is _____. A) $5; 30 B) $10; 20 C) $20; 10 D) $15; 30
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Question

In the market shown in the graph, the equilibrium price is ___ and the equilibrium quantity is _____.
A) $5; 30 
B) $10; 20 
C) $20; 10 
D) $15; 30

Quizplus · Accepted Answer

The equilibrium point is where the demand curve and the supply curve intersect. In this case, the point of intersection occurs at a price of $10 and a quantity of 20. Therefore, the answer is B.

In the Market Shown in the Graph, the Equilibrium Price