Question

The supply/demand graph for bicycle helmets in a certain market is shown above.Find the price when supply and demand are in equilibrium. a. $30 b. $40 c. $70 d. $80

Answer 1

The answer is D. The lines intersect at the quantity of 40 and the price of 70

Hopes this helps

Answer 2

C

Explanation:

The Equilibrium Point is the place where the Demand Curve (D) and Supply Curve (S) intersects.

In the given coordinate system, the x axis gives us the quantity and y axis gives us the price. So we look at the y-value where the intersection of supply and demand curve occurs.

The intersection point of both the curves (lines) occur at the point where Quantity = 40 and Price = 70.

We want to know price, so it is $70, answer choice C.