Question

Using the above supply/demand graph, what is the price at the point of equilibrium?
a.
100
b.
75
c.
70
d.
55

Answer 1

I can’t see the graph you mention. Please either upload the image or describe where the supply and demand curves intersect (the coordinates or the y-axis price at that point).

How to find it:
- Locate the intersection of the supply and demand curves.
- Read the price (vertical axis) at that intersection — that is the equilibrium price.
- If the intersection point’s price on the vertical axis is 70, the correct choice is c.