The equilibrium price in a market is found where

Question

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The equilibrium price in a market is where the market supply curve intersects the market demand curve. This is because at this price level, the quantity demanded by consumers equals the quantity supplied by producers, resulting in no surplus or shortage of the product in the market. Therefore, the market is said to be in a state of equilibrium. The intersection of the supply and demand curves is also known as the market clearing point.

The Equilibrium Price in a Market Is Found Where