Multiple Choice
A market is in equilibrium:
A) when there is a surplus of the product in the market.
B) at all prices above the price shown by the intersection of the supply curve and the demand curve.
C) if the amount producers want to sell is equal to the amount consumers want to buy.
D) whenever the demand curve is downward sloping and the supply curve is upward sloping.
Correct Answer:
Verified
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