AnswersOC27 Economics-2102310-Sem-MeadowsUnit Test

Unit Test Answers

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Where is the equilibrium point on this graph?

A
where the demand curve begins and the supply curve ends
B
where the demand curve and the supply curve cross each other
C
where the supply curve begins and the demand curve ends
D
where both curves begin heading downward
2
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"A" represents the new quantity supplied, while "B" represents the new quantity demanded. | What is the result of these changes? | Based on this graph, what should happen to prices?

A
They should fall.
B
They should rise.
C
They should stay the same.

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