Question

What does "Q” represent on the graph?

Answer 1

The correct answer is B.

The equilibrium point, the point where the supply and demand functions intersect, is constituted by two coordinates (the P price in the y axis, and the Q quantity in the x axis).

At the equilibrium point, the quantity that consumers are willing to purchase of a certain good at the P price (quantity demanded) equals the amount that producers are willing to offer at this P price (quantity supplied). In the equilibrium point, the market clears (Q = quantity supplied = quantity demanded) which means that the whole output that has been produced is also sold.

Answer 2

its b. the quantity at the equilibrium point.