105k views
1 vote
A store’s supply/demand graph for ceiling fans is shown above. If the price is at the equilibrium point, how much money will the store make selling ceiling fans?

A store’s supply/demand graph for ceiling fans is shown above. If the price is at-example-1
User Arjuna
by
8.7k points

2 Answers

4 votes

Answer:

✅ B. $1,800

Edgen

A store’s supply/demand graph for ceiling fans is shown above. If the price is at-example-1
User Nteissler
by
8.3k points
2 votes

We know that

equilibrium point is a point where demand curve and supply curve (S) intersect each other

so, D=S

so, equilibrium point is at x=40

and price at that point is p=45

we know that

revenue = price*quantity

revenue = 40*45


R=40*45


R=1800

so, the store will make $1800 by selling ceiling fans...........Answer


User Zhuoran He
by
8.8k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.