question archive When a market is in equilibrium, A
When a market is in equilibrium, A
Subject:MarketingPrice:2.88 Bought3
When a market is in equilibrium,
A. quantity supplied exceeds quantity demanded.
B. quantity demanded exceeds quantity supplied.
C. quantity demanded equals quantity supplied.
D. there is either a shortage or surplus.
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Answer: C
The market is equilibrium when quantity demanded equals quantity supplied and thus there is no pressure for prices to rise or fall. If a shortage exists, then there is pressure for prices to rise. If a surplus exists, then there is pressure for prices to fall.
