Question

The supply and demand for vintage vinyl records are shown. Where is the equilibrium point.

Answer 1

at the intersection of the 2 lines at that dot that is on both lines

Explanation:

Answer 2

The point where the demand curve and the supply curve meets

Explanation:

The equilibrium point is the point at which the quantity of vintage vinyl supplied and the quantity demanded is equal at a particular price.

From the graph, the equilibrium point is the point at which the demand curve and the supply curve intersects.

So, the equilibrium point if vintage vinyl is at the point somewhere between the price of 20 and 30, and the point where the quantity is somewhere between 50 and 100.