Equilibrium is the condition that exists

A) when quantity demanded equals quantity supplied.
B) when the demand curve intersects the price axis.
C) when the demand curve intersects the quantity axis.
D) whenever there is no government intervention in the market.

Question

Margaret Laurent · Accepted Answer

Final Answer : A, Explanation :  Equilibrium is achieved when the quantity demanded by consumers is equal to the quantity supplied by producers. This means that the market is in a state of balance, with no surplus or shortage of goods. The demand curve and supply curve intersect at this point, which determines the market price for the good or service. The other choices may be relevant to the market, but they do not describe the condition of equilibrium.

Equilibrium is the condition that exists

A) when quantity demanded equals quantity supplied.
B) when the demand curve intersects the price axis.
C) when the demand curve intersects the quantity axis.
D) whenever there is no government intervention in the market.

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Learning Objectives

Learning Objectives

Related questions

Equilibrium is the condition that existsA) when quantity demanded equals quantity supplied.B) when the demand curve intersects the price axis.C) when the demand curve intersects the quantity axis.D) whenever there is no government intervention in the market.

Definitions

Learning Objectives

Learning Objectives

Related questions

Equilibrium is the condition that exists

A) when quantity demanded equals quantity supplied.
B) when the demand curve intersects the price axis.
C) when the demand curve intersects the quantity axis.
D) whenever there is no government intervention in the market.