The graph represents the supply and demand curve for chocolates in the economy. Identify the price and quantity at which there will be equilibrium in the chocolate market.

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asked Aug 11, 2021 95.3k views

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Ashleigh Clayton · Answer 1 · 2021-08-16T02:38:40+0000

Answer:

Equilibrium Price - 3

Equilibrium Quantity - 3

Step-by-step explanation:

The price at which there will be equilibrium in the chocolate market is 3 units while the corresponding quantity is also 3 units.

The equilibrium price and quantity represents the price and quantity where the demand for a product is equal to the supply for the same product respectively.

In the graph, the point of intersection of the demand and the supply curve represents the equilibrium point. At this point, the price on the Y axis is 3 units while the corresponding quantity on the X axis is also 3 units.

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The graph represents the supply and demand curve for chocolates in the economy. Identify the price and quantity at which there will be equilibrium in the chocolate market.

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The graph represents the supply and demand curve for chocolates in the economy. Identify the price and quantity at which there will be equilibrium in the chocolate market.​

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The graph represents the supply and demand curve for chocolates in the economy. Identify the price and quantity at which there will be equilibrium in the chocolate market.