Which of the following statements is true
A)a market equilibrium price is where quantity demanded equals quantity supplied
B)a market equilibrium price is where the demand is higher than the supply
C)a market equilibrium price is where the supply is higher than the demand
D)none of the above

Question

​Which of the following statements is true
A)​a market equilibrium price is where quantity demanded equals quantity supplied
B)a market equilibrium price is where the demand is higher than the supply
C)a market equilibrium price is where the supply is higher than the demand
D)​none of the above

Quizplus · Accepted Answer

A market equilibrium occurs when the quantity demanded by consumers is equal to the quantity supplied by producers. This is represented by the point where the supply and demand curves intersect. At this point, there is no shortage or surplus of goods, and the market is in balance. Option B and C are incorrect because they both suggest an imbalance in the market, with either excess demand or excess supply. Option D is incorrect as well because A is true.

​Which of the Following Statements Is True

Which of the Following Statements Is True