8
QuizMultiple Choice
Determining Market Price
Question 8 • (Galli)WCA 2221 Civics/Economics 1st nine weeks 26-27
The graph shows a point of equilibrium.What does "P" represent on the graph?
Answer
t
the point where equilibrium is achievedt
the price at the equilibrium pointt
the average price of goods soldt
the point where supply and demand drop