Question 1
EasyOriginal questionMarket equilibrium occurs at the price where
Show the answer and explanation
CorrectNot quiteAnswer B
Correct answer: B
Explanation
At the equilibrium price, every buyer who wants the good at that price gets it and every seller sells what he offers.
- Concept
- Market equilibrium
- Typical timeTypical
- 40 s
- Your timeYours
- —
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Ten questions from Market Equilibrium & Price Controls, at your own pace.