Question

Select the correct point on the graph. Which point on the graph indicates the lowest quantity supplied of goods? 9.00 supply curve 8.00 7.00 Price per Pound 6.00 5.00 B 4.00 3.00 2.00 1,000 2,000 3,000 4,000 5,000 6,000 7,000 Quantity in Pounds i rights reserved.

Answer 1

Explanation

The question wants us to select the option on the graph that indicates the lowest quantity of supplied goods

From the graph, we can observe that

The plot was the price per pound against quantity in pounds

We notice that for point A

The price per pound is about 3.00 and the quantity in pounds is about 2500

Thus, point A has the lowest compared to other points

Thus, the answer is point A