Asked by
Gisethe Chavez
on Nov 30, 2024Verified
Each of these is true at equilibrium except that
A) quantity demanded is equal to quantity supplied.
B) the market is said to clear,there is not surplus or shortage.
C) the buyers can buy as much as they want at the market price.
D) the sellers can sell as much as they want at the market price.
E) All of these statements are true at equilibrium.
Equilibrium
A condition or state in which economic forces are balanced, such as the point where supply equals demand.
Market Clear
A situation in which the market reaches a state where quantity supplied equals quantity demanded, leaving no surplus or shortage.
Surplus
An excess of income or assets over expenditure or liabilities in a given period, typically a fiscal year, leading to available resources beyond what is required.
- Comprehend the notion of market equilibrium and its determination through the interaction of supply and demand forces.
Verified Answer
AM
Learning Objectives
- Comprehend the notion of market equilibrium and its determination through the interaction of supply and demand forces.