question archive A product market will be in equilibrium A
A product market will be in equilibrium A
Subject:MarketingPrice:2.88 Bought3
A product market will be in equilibrium
A. whenever the demand curve is downward sloping and the supply curve is upward sloping.
B. when the amount which producers are willing and able to sell is equal to the amount that consumers are willing and able to buy.
C. at all prices above that shown by the intersection of the supply and demand curves.
D. provided there is no surplus of the product.
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- The correct option is (B). When the amount which producers are willing and able to sell is equal to the amount that consumers are willing and able to buy.
Usually, the product market is related to the marketplace where there is a trade of only furnished products and services that businesses sold to the public sector. Therefore, the equilibrium will occur at the intersection point of both the demand and supply curve wherein the buyers willing to pay exactly match the seller's willingness to accept.
