At the Point Where the Demand and Supply Curves for a Product

question 19

Multiple Choice

At the point where the demand and supply curves for a product intersect:

• A)the "selling price" and the "buying price" need not to be equal
• B)the market may, or may not, be in equilibrium
• C)either a shortage or a surplus of the product might exist, depending upon the degree of competition
• D)the quantity that consumers want to purchase and the amount producers choose to sell are the same
• E)price will be pushed either up or down, depending on whether there is a shortage or surplus

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