When a Market Is in Equilibrium

question 74

Multiple Choice

When a market is in equilibrium:

• A)there is either excess demand or excess supply.
• B)both excess demand and excess supply are positive.
• C)both excess demand and excess supply are positive and equal to each other.
• D)there is neither excess demand nor excess supply.

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Definitions:

Fighting Brands

These are lower-priced products launched by companies to compete with generic or store brands and to protect their premium brands' market share without lowering the price of their main products.

Brand Extensions

A marketing strategy where a company uses an existing brand name to launch a new or modified product in a different product category.

Defensive Moves

Strategies employed by companies to protect their market share, revenue, or profitability from competitors.

Mixed Branding

a strategy where a company markets products under several different brands, often catering to different market segments.