price in dollars\n30\n25\n20\n15\n10\n5\n0\nsupply\ndemand\n5 10 15 20 25 30\nquantity supplied\nhow many…
price in dollars\n30\n25\n20\n15\n10\n5\n0\nsupply\ndemand\n5 10 15 20 25 30\nquantity supplied\nhow many goods must be supplied to achieve equilibrium?\n15\n20\n25\n30
Answer
Explanation:
Step1: Identify Equilibrium Point
In a supply - demand graph, equilibrium occurs where the supply and demand curves intersect. The intersection point's x - coordinate (quantity supplied) gives the equilibrium quantity. Looking at the graph, the intersection point of the supply (blue) and demand (red) curves has a quantity supplied (x - value) of 15.
Step2: Match with Options
We check the options. The quantity at the intersection (equilibrium) for quantity supplied is 15.
Answer:
15