The Following Questions Refer to the graph below.
-Equilibrium price and quantity are
A)20 and 100
B)20 and 200
C)15 and 300
D)15 and 200
E)10 and 200

Question

The Following Questions Refer to the graph below. 
-Equilibrium price and quantity are
A)20 and 100 
B)20 and 200 
C)15 and 300 
D)15 and 200 
E)10 and 200

Quizplus · Accepted Answer

Equilibrium price is where the demand and supply curves intersect, which is at price $15. Equilibrium quantity is the quantity supplied and the quantity demanded at this price, which is 200. Therefore, the correct answer is D (15 and 200).

The Following Questions Refer to the Graph Below