What are the equilibrium price and equilibrium quantity in this situation?
4.00
A
demand
3.50
supply D
3.00
Price
2.50
per
Pound 2.00
(dollars)
1.50
1.00
0.50
B
→
1,000 2,000 3,000 4,000 5,000 6,000 7,000
Quantity of Apples (pounds)
L