The equilibrium price is:
A) stable because at this price the quantity demanded equals the quantity supplied.
B) unstable because at this price the quantity demanded is less than the quantity supplied.
C) unstable because at this price the quantity demanded exceeds the quantity supplied.
D) stable because at this price all buyers are willing and able to pay.
Correct Answer:
Verified
Q18: Use the following to answer questions:
Figure: Market
Q19: A free market achieves an equilibrium price
Q20: A market can be described by the
Q21: Use the following to answer questions:
Figure: Basic
Q22: Use the following to answer questions:
Figure: Chocolate
Q24: The equilibrium price is:
A) the price at
Q25: Use the following to answer questions:
Figure: Basic
Q26: Use the following to answer questions:
Figure: Basic
Q27: Use the following to answer questions:
Figure: Chocolate
Q28: Use the following to answer questions:
Figure: Price
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