|
Title: When the supply curve and the demand curve for a single product or service are s Post by: goji.go on Jul 19, 2013 When the supply curve and the demand curve for a single product or service are shown on the same graph, the point at which the curves intersect identifies the ________.
A) total profit earned by the producers B) market price of the good C) quality of the good or service being purchased D) amount of the surplus to be anticipated E) the number of substitute goods available Title: Re: When the supply curve and the demand curve for a single product or service are s Post by: bbb on Jul 20, 2013 B) The market price of an item is the price at which supply equals demand. Therefore, the market price is the point at which the supply curve and the demand curve intersect.
Title: Re: When the supply curve and the demand curve for a single product or service are s Post by: goji.go on Jul 20, 2013 Thanks :D
Title: Re: When the supply curve and the demand curve for a single product or service are s Post by: bbb on Jan 20, 2014 Glad to help, mark it solved!
|