19
QuizMultiple Choice

Microeconomics — Test

Question 19 • CMS 2026-2027 Economics and Personal Finance INITIAL CREDIT

On a graph, an equilibrium point is where

Answer
A
a supply curve is higher than a demand curve.
B
the supply and demand curves head down.
C
a supply curve and a demand curve meet.
D
the supply and demand curves head up.

Explanation

An equilibrium occurs where the quantity supplied equals the quantity demanded. On a graph, that is the point where the supply curve and demand curve intersect, or meet. The direction the curves head and which curve is higher do not by themselves define equilibrium.

AI-written and checked against the verified answer.

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