Question

Examine this supply and demand graph for a product. What is the
approximate equilibrium price for the product?
Demand
$S
Supply
$4
Price
$1
O
1
2
4
5
3
Quantity

Answer 1

Answer:

$3

Explanation:

It’s the intersecting point on the graph

Answer 2

Answer:

$3

Explanation:

A.P.E.X