Homework SoursePM EDT Figure 420 00 200 300 400 500 600 700 800 900 Refer t
PM EDT Figure 4-20 00 200 300 400 500 600 700 800 900 Refer to Figure 420. At a price of S20, which of the following statements is nor correct\"? O a. The market is in equilibrium O b. Equilibrium price is equal to equilibrium quantity c. There is no pressure for price to change d. The quantity of the good that is bought and sold is 600 units ![PM EDT Figure 4-20 00 200 300 400 500 600 700 800 900 Refer to Figure 420. At a price of S20, which of the following statements is nor correct\](/WebImages/41/pm-edt-figure-420-00-200-300-400-500-600-700-800-900-refer-t-1127294-1761601402-0.webp "PM EDT Figure 4-20 00 200 300 400 500 600 700 800 900 Refer to Figure 420. At a price of S20, which of the following statements is nor correct\")
Solution
At the price of $20 the mrket is in equillibrium. Here we see that both the demand curve and supply curve intersect each other in 600 units and market equillibrium is a situation where market demand curve and market supply curve intersect each other.
