What does "P" represent on the graph?
O the point where equilibrium is achieved
O the price at the equilibrium point
O the average price of goods sold
O the point where supply and demand drop

Question

04-01-2021
Business

Answered

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What does "P" represent on the graph?
O the point where equilibrium is achieved
O the price at the equilibrium point
O the average price of goods sold
O the point where supply and demand drop

Sagot :

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Smartgnome Smartgnome · Answer 1 · 2021-08-31T17:35:56-04:00

Smartgnome Smartgnome

31-08-2021

Answer:

the price at the equilibrium point

Explanation:

Answer Link

gauravsingh23VT gauravsingh23VT · Answer 2 · 2022-07-13T03:23:23-04:00

The price at the equilibrium point is the "P" represent on the graph. as equilibrium is the point were there is no change.

What happens at the equilibrium point?

When the volume given and demanded are equal, an equilibrium is reached. The amount demanded will exceed the quantity provided if the price is below the equilibrium level. A shortage or an excess of demand will exist.

Thus, option B is correct.

For more details about equilibrium point, click here:

https://brainly.com/question/1527528

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What does "P" represent on the graph? O the point where equilibrium is achieved O the price at the equilibrium point O the average price of goods sold O the point where supply and demand drop

Sagot :

What happens at the equilibrium point?

Other Questions

What does "P" represent on the graph?
O the point where equilibrium is achieved
O the price at the equilibrium point
O the average price of goods sold
O the point where supply and demand drop