Market equilibrium occurs where the quantity supplied is equal to the quantity demanded.

Name: Market equilibrium occurs where the quantity supplied is equal to the quantity demanded.
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Question

Quizplus · Accepted Answer

Market equilibrium is defined as the point where the quantity of a good or service demanded is equal to the quantity of that good or service supplied by producers. At this point, there is no shortage or excess of the good or service and prices are stable. Therefore, option A is correct.

Market Equilibrium Occurs Where the Quantity Supplied Is Equal to the Quantity