Determining Market Price

Question 1

On this graph, the equilibrium point occurs at which price?

Revolt · Accepted Answer

$9

Question 2

supply✔ demand

Revolt · Accepted Answer

✔ demand

Question 3

Match each term with the correct part of the graph.

Revolt · Accepted Answer

Equilibrium point: C

Question 4

AB✔ C

Revolt · Accepted Answer

✔ C

Question 5

equilibrium✔ disequilibrium

Revolt · Accepted Answer

✔ disequilibrium

Question 6

lower prices✔ higher prices

Revolt · Accepted Answer

✔ higher prices

Question 7

"A" represents the new quantity demanded, while "B" represents the new quantity supplied.

Revolt · Accepted Answer

excess supply; fall

Question 8

rise✔ fallstay the same

Revolt · Accepted Answer

✔ fall

Determining Market Price Answers