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ELEN [110]
4 years ago
5

The graph shows a point of equilibrium. What does "Q” represent on the graph?

Social Studies
2 answers:
Len [333]4 years ago
6 0

In economics, the main graph showing the break-even point is the one that demonstrates the interaction between supply and demand for goods and services. In this way, the graph demonstrates the quantity demanded according to the price variations. For low prices, demand will be high. For high prices, demand will decrease. It is a law of the economy that operates dynamically. There will be a point where the price charged will equal the quantity demanded. This will be the point of equilibrium, where P = Q.

P = price of the good or service

Q = Quantity demanded

miskamm [114]4 years ago
5 0
Q usually stands for "quantity."
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