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The equilibrium price is located at which of the following points?

  • Question 2b of 10 - Supply and demand

  • Maximum Attempts: 1
  • Question Type: Multiple Choice
  • Maximum Score: 2
  • Question: The equilibrium price is located at which of the following points?
  • Answers:
  1. Where the supply and demand curves intersect.
  2. Where the supply curve is at its lowest.
  3. Where the demand curve reaches its peak.
  4. Where the production possibilities frontier is furthest to the right.

The correct answer is: Where the supply and demand curves intersect. The equilibrium price is the price at which quantity supplied equals quantity demanded.

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