From the graph above, the consumer is at equilibrium at point
Answer Details
Based on the graph, the consumer is at equilibrium at point k.
Equilibrium is when the quantity demanded by the consumer is equal to the quantity supplied by the market. At equilibrium, there is no shortage or surplus of the goods or services.
Point k on the graph represents the intersection of the demand curve (D) and the supply curve (S). At this point, the quantity demanded (Qd) and the quantity supplied (Qs) are equal.
If the consumer is at any other point on the graph, either to the left or to the right of point k, there would be either a shortage or a surplus of the goods or services. This would mean that the demand and supply are not in balance and the market is not at equilibrium.
Therefore, point k is the correct answer as it represents the position where the consumer is at equilibrium.
