In a market diagram, demand and supply cross each other at the equilibrium point.

Question

Quizplus · Accepted Answer

At the equilibrium point, the quantity demanded by consumers is equal to the quantity supplied by producers, resulting in a balance between demand and supply. This intersection point is where the market price for the good or service will settle, and it is represented by the point at which the demand curve and supply curve intersect on a graph. Therefore, demand and supply do cross each other at the equilibrium point.

In a Market Diagram, Demand and Supply Cross Each Other