Use the figure below to answer the following questions.

Figure 16.2.3
-Refer to Figure 16.2.3. The unregulated outcome in the paper market is
A)a quantity of 40 tonnes and a price of $11 a tonne.
B)a quantity of 40 tonnes and a price of $13 a tonne.
C)a quantity of 50 tonnes and a price of $12 a tonne.
D)a quantity of 50 tonnes and a price of $14 a tonne.
E)a quantity of 60 tonnes and a price of $13 a tonne.

Question

Use the figure below to answer the following questions.
  
Figure 16.2.3
-Refer to Figure 16.2.3. The unregulated outcome in the paper market is
A)a quantity of 40 tonnes and a price of $11 a tonne. 
B)a quantity of 40 tonnes and a price of $13 a tonne. 
C)a quantity of 50 tonnes and a price of $12 a tonne. 
D)a quantity of 50 tonnes and a price of $14 a tonne. 
E)a quantity of 60 tonnes and a price of $13 a tonne.

Quizplus · Accepted Answer

The unregulated outcome is the intersection point of the demand and supply curves, which is 50 tonnes at a price of $12 a tonne. This is shown by the point where the demand and supply curves intersect on the graph.

Use the Figure Below to Answer the Following Questions