When We Plot a Supply Curve and a Demand Curve

question 62

Multiple Choice

When we plot a supply curve and a demand curve for apples on one graph, the point at which the two points intersect is the _____.

• A) stable price
• B) consumer price index
• C) gross product
• D) equilibrium price

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Definitions:

Procedures for Incorporation

The standardized legal steps and requirements followed to legally form and register a corporation with the state or appropriate authority.

Challenge

A call to engage in a competition or contest.

Corporation

A legal entity separate from its owners, offering limited liability to its shareholders and able to own property and sign contracts.

Close Corporation

A corporation whose shareholders are limited to a small group of persons, often family members.