Which of the Following Statements About Demand and Supply Interaction

question 63

Multiple Choice

Which of the following statements about demand and supply interaction is TRUE?

• A) A market is said to be in equilibrium when the elasticity of demand equals the elasticity of supply.
• B) For a market to be in equilibrium, the price and quantity that buyers are willing to accept must be greater than the price and quantity that suppliers are willing to offer.
• C) The interaction of supply and demand determines the size of the market and the market price.
• D) Demand determines price.
• E) All of the above are true.

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