Question

The graph shows a point of equilibrium. A graph has Quantity supplied on the x-axis and price in dollars on the y-axis. A line that represents supply has a positive slope and a line that represents demand

asked Jan 2, 2021 174k views

The graph shows a point of equilibrium. A graph has Quantity supplied on the x-axis and price in dollars on the y-axis. A line that represents supply has a positive slope and a line that represents demand has a negative slope. The lines intersect at point (30, 9). Line P is drawn from the point of equilibrium to the y-axis, and line Q is drawn from the point of equilibrium to the x-axis.What does "Q” represent on the graph? the point where equilibrium is achieved the quantity at the equilibrium point the average cost of goods sold the point where supply and demand drop