Graphically,what Has Been Achieved When Price of Goods Demanded Is

question 10

Multiple Choice

Graphically,what has been achieved when price of goods demanded is equal to the quantity of goods supplied?

• A) Supply curve optimization
• B) Potential for surplus
• C) Price reductions
• D) Freedom of choice opportunities
• E) Equilibrium price

---

Definitions:

High-value

Referring to items or services that possess great monetary, instrumental, or intrinsic worth.

Low-value

Pertains to items or assets that carry a lesser worth or significance, either monetarily or in terms of utility.

Set Price

The predetermined fixed amount at which a product or service is sold to consumers.

Oral Auction

A public auction where bids are made verbally, allowing participants to increase their bids until the highest bid is reached and the item is sold.