Chuck's Chocolate Factory's property taxes are on the rise. The owner wants to shift this tax to his customers by raising the price of a box of chocolates. As their ace accountant, it's your job to determine how this price will affect sales.
The line graph below shows how demand falls as the price rises. Intersecting lines show when supply and demand is balanced.
Use the line graph to answer the multiple-choice questions below. Click on the letter of the correct answer. To assess your answers, click the Check My Answers button at the bottom of the page.
- At what price is supply and demand balanced?
- How many boxes were sold at this price?