Refer to the above diagram. The equilibrium price and quantity in this market will be:
Understand the Problem
The question is asking for the equilibrium price and quantity in a market based on the provided diagram showing the supply and demand curves.
Answer
$1.00 and 200
The equilibrium price is $1.00 and the equilibrium quantity is 200.
Answer for screen readers
The equilibrium price is $1.00 and the equilibrium quantity is 200.
More Information
At the equilibrium point, the quantity supplied equals the quantity demanded, reflecting the intersection of the demand and supply curves.
Tips
Ensure you correctly identify the curves and find their exact point of intersection.
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