Question

hand sanitizer
hand sanitizer price
quantity demanded (in millions)
what was the equilibrium price and quantity for hand sanitizer before the pandemic according to the graph?
price $4; quantity demanded of 200
price $8; quantity demanded of 400
price $2; quantity demanded of 100
price $6; quantity demanded of 300

Explanation:

Step1: Recall equilibrium concept

In a supply - demand graph, equilibrium is at the intersection of supply and demand curves.

Step2: Identify intersection point

From the graph, the intersection of the two curves is at price = $4 and quantity = 200 million.

Answer:

Price $4; Quantity demanded of 200