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cyanhound711Lv1
11 Dec 2019
The point at which the supply curve and the demand curve intersect is called:
A. Equilibrium, because quantity demanded equals quantity supplied so there is no tendency for price to change.
B. Equilibrium, because quantity demanded exceeds quantity supplied so there is a shortage
C. Equilibrium, because quantity supplied exceeds quantity demanded so there is a surplus
D. Irrelevant, because real-world prices never reach this point
The point at which the supply curve and the demand curve intersect is called:
A. Equilibrium, because quantity demanded equals quantity supplied so there is no tendency for price to change.
B. Equilibrium, because quantity demanded exceeds quantity supplied so there is a shortage
C. Equilibrium, because quantity supplied exceeds quantity demanded so there is a surplus
D. Irrelevant, because real-world prices never reach this point
Sonal BahlLv10
29 Sep 2020
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