Using the above supply/demand graph, what is the price at the point of equilibrium? a. 105 b. 100 c. 95 d. 80
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As stated by others, the correct answer out of the choices is A.) 105
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Answer:
Option A. [tex]\$105[/tex]
Step-by-step explanation:
we know that
The point of equilibrium is when the price of the supply is equal to the prive of the demand
Observing the graph
The intersection point is equal to [tex](80,105)[/tex]
The y-coordinate is equal to the price
therefore
The price at the point of equilibrium is [tex]\$105[/tex]