The Equilibrium Price Is Established When the _____

question 87

Multiple Choice

The equilibrium price is established when the _____.

• A)prevailing market price of an item is same as the price at which a consumer can buy the item
• B)demand curve and the supply curve are parallel to each other
• C)opportunity cost of a product is greater than its production cost
• D)production cost of an item is greater than its selling price

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Definitions:

Court Order

A directive issued by a judge that requires a party to do or abstain from doing something.

Attachment

The legal process of seizing a debtor's property or assets to secure or satisfy a judgment.

Enforceable

Refers to a legal agreement or obligation that can be upheld by law.

Third Parties

Individuals or entities not directly involved in a contract or legal agreement, but who may be affected by its outcomes or may hold rights or interests under it.