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The graph shows a point of equilibrium.

A graph titled Daily Market for Graphic Tees at the Clothing Shop has Quantity supplied on the x-axis, from 0 to 50 in increments of 10, and price in dollars on the y-axis, from 0 to 18 in increments of 2. A line that represents supply has a positive slope and a line that represents demand has a negative slope. The lines intersect at point (30, 9).

What is the price at which equilibrium is achieved?

Respuesta :

Answer:

On this graph, the equilibrium point occurs at which price? $9

Explanation:

The price at which equilibrium is achieved is $9

The equilibrium point is the point where the lines of the demand and supply functions meet.

From the question, we understand that price is plotted on the vertical axis (i.e. the y-axis).

Also from the question, the lines intersect at point (30,9).

The y-coordinate of the intersection point is 9

Hence, the price at which equilibrium is achieved is $9

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