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and ends at (240,250). There is a blue downward sloping line that starts at (70,250) and ends at (240,150).) What sales price should you select to meet the equilibrium price for the lawn mower?
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30 votes
30 votes
and ends at (240,250). There is a blue downward sloping line that starts at (70,250) and ends at (240,150).) What sales price should you select to meet the equilibrium price for the lawn mower?

User George WS
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1 Answer

16 votes
16 votes

Answer:

$190

Step-by-step explanation:

The equilibrium price of the lawnmower can be deduced from the graph ; it is the point of intersection of the orange and blue line ; which is the intersection point if the supply and demand line. The price axis is located on the vertical y-axis. This intersection point when traced to the left of the graph gives the equilibrium price. Hence, the equilibrium price as obtained from the graph is about $190

and ends at (240,250). There is a blue downward sloping line that starts at (70,250) and-example-1
User Haakonlu
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