Of Equilibrium Where is the equilibrium point on this graph?
O where the demand curve begins and the supply
curve ends
where the demand curve and the supply curve
cross each other
where the supply curve begins and the demand
curve ends
O where both curves begin heading downward
Demand
50
30 40
uantity Supplied

whereO the two curves meet.the supply curve begins.the supply curve ends. ... and demand graph, equilibrium is the point where O the two curves meet. The demand curve slopes downward with representing when prices ... Hence where the two points intersect there is an equilibrium where demand and ...

Explanation:

levels of production can be increased by technology while holding labor and capital constant, because increased technology makes the production process more efficient. subsequently, the lras curve is almost a vertical line, that can shift to the right, with an increase in technology.

the relationship between the lras curve and the ppc is that both can make the economy could grow. the ppc achieves that when it shifts outward because of more resources or technological advances while the lras curve shifts if more resources are developed or if there are technological advances.

the lras curve is a vertical line at an output level that represents the number of goods and services a nation can produce over a sustained period using all of its productive resources as efficiently as possible with all of the current technology available to it.

the production possibilities frontier (ppf) is a graphical device that is used for economic analysis of production decisions because the ppf measures the maximum possible combinations of two goods that an economy is capable of producing with its currently available resources and technology.