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WAEC Agricultural Science 2020 Question 47

Question 47

Basic Agricultural Economics

The diagram below is a demand and supply graph.
The part labelled C in the graph is the

Diagram for this question
  1. A.quantity supplied.
  2. B.equilibrium price.
  3. C.quantity demanded.
  4. D.equilibrium point.
Show the answer and explanation

Answer: D (equilibrium point.)

Explanation

C is where the demand and supply curves cross: the equilibrium point.