At the point where the demand and supply curves for a product intersect:
A) the "selling price" and the "buying price" need not to be equal
B) the market may, or may not, be in equilibrium
C) either a shortage or a surplus of the product might exist, depending upon the degree of competition
D) the quantity that consumers want to purchase and the amount producers choose to sell are the same
E) price will be pushed either up or down, depending on whether there is a shortage or surplus
Correct Answer:
Verified
Q28: Q29: A supply curve: Q30: The law of supply: Q31: A market is in equilibrium: Q32: A change in the price of a Q34: A leftward shift of a product's supply Q35: The quantity demanded of a product increases Q36: If businesses offer a lower quantity supplied Q37: An increase in the wages of construction Q38: The law of supply indicates that:![]()
A)is a graph that shows
A)reflects the amounts businesses
A)provided there is
A)producers will
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