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Question : Equilibrium price is the price when :

Option 1: Supply is greater than demand .

Option 2: Supply is less than demand .

Option 3: Demand  is very high .

Option 4: Supply is equal to demand.


Team Careers360 8th Jan, 2024
Answer (1)
Team Careers360 17th Jan, 2024

Correct Answer: Supply is equal to demand.


Solution : The correct option is supply is equal to demand.

The equilibrium price is the point at which the quantity of a good or service that producers are ready to sell equals the quantity that consumers are eager to purchase. This is where the supply and demand curves meet on a graph, signifying a state of market balance. At this price, there is neither a surplus of supply nor an excess of demand, resulting in a stable market condition.

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