question archive A market is in equilibrium when A
A market is in equilibrium when A
Subject:MarketingPrice:2.88 Bought3
A market is in equilibrium when
A. supply is equal to demand.
B. the price is adjusting upward.
C. the quantity supplied is equal to the quantity demanded.
D. tastes and preferences remain constant.
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The correct answer is Option C. the quantity supplied is equal to the quantity demanded.
Always remember that a market is in equilibrium when the quantity demanded of a good is equal to the quantity supplied. Otherwise, if the quantity demanded is more than the quantity supplied, then the demand pressure increase price and both will be equal and vice versa.
