-Refer to the graph above to answer this question.What is the effect if the price is $1,200.
A)The quantity demanded is 120.
B)Price will rise.
C)The quantity supplied is 160.
D)The quantity traded is 120.

Question

-Refer to the graph above to answer this question.What is the effect if the price is $1,200.
A)The quantity demanded is 120. 
B)Price will rise. 
C)The quantity supplied is 160. 
D)The quantity traded is 120.

Quizplus · Accepted Answer

At a price of $1,200, suppliers are willing to supply 160 units, as indicated by the supply curve. The question does not provide information about demand at this price, so we cannot accurately determine the quantity demanded or traded, nor can we predict price movement without knowing the demand curve's position relative to the supply at this price.

-Refer to the Graph Above to Answer This Question