Choose the Best Description of an "Equilibrium Price

question 114

Multiple Choice

Choose the best description of an "equilibrium price."

• A)The price in the middle of supply and demand.
• B)The price at which quantity demanded of the commodity is equal to the quantity supplied.
• C)The price that consumers are willing to pay.
• D)The price that producers want to charge.
• E)The price at which demand for the commodity is equal to supply.

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Definitions:

World Trade Organization

The World Trade Organization is an international body that deals with the global rules of trade between nations, aiming to ensure that trade flows as smoothly, predictably, and freely as possible.

Globalization Philosophy

A viewpoint on how global integration of economies, cultures, and societies should be approached or understood.

Corporate Global Strategy

A business approach that defines a company's goals, tactics, and policies to compete and operate internationally.

Labor Relations

The study and practice of managing the relationships between employers and employees, often focusing on collective bargaining, unions, and workers' rights.