A Market Is in Equilibrium

question 192

Multiple Choice

A market is in equilibrium

• A) provided there is no surplus of the product.
• B) at all prices above that shown by the intersection of the supply and demand curves.
• C) if the amount producers want to sell is equal to the amount consumers want to buy.
• D) whenever the demand curve is downsloping and the supply curve is upsloping.

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Definitions:

Constant Rate

A fixed rate at which something occurs or is applied.

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