What are the floats called that are thrown to people to save them from drowning?
1 answer:
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Answer: A: The current selling price matches the product's equilibrium price.
Explanation:
The graph is attached for a better analysis.
From the graph, we can see that the Equilibrium price is $400 while the equilibrium quantity supplied and Equilibrium quantity demanded is 4000.
Since the current selling price is $400 and the equilibrium price is $400 as well, then we can say that the current selling price matches the product's equilibrium price.
Therefore, the correct option is A.
