In the graph above, the equilibrium price for wheat is $3, and the equilibrium quantity for wheat is 1,000.
The equilibrium price and quantity are where the demand and supply curve intersect. Both the demand and supply curve is a representation of how much is offered or demanded at a given price or quantity. In order to know what the numbers at equilibrium represent, one needs to look at the axis. The x-axis (horizontal line) in this case is the quantity and the y-axis (vertical line) in this case is the price. Since 1000 lies on the quantity axis then it represents a quantity. Also, the 3 had a dollar sign next to it which represents price.