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?
- Where the supply and demand curves intersect.
- Where the supply curve is at its lowest.
- Where the demand curve reaches its peak.
- 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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