what does \p\ represent on the graph?\no the point where equilibrium is achieved\no the price at the…
what does \p\ represent on the graph?\no the point where equilibrium is achieved\no the price at the equilibrium point\no the average price of goods sold\no the point where supply and demand drop
Answer
Brief Explanations:
In a supply - demand graph, the equilibrium point is where the supply and demand curves intersect. The vertical coordinate at this intersection is the equilibrium price. Here, "P" is on the vertical axis (price axis) at the intersection point, so it represents the price at the equilibrium point.
Answer:
the price at the equilibrium point