Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which is true if equilibrium is present in a market? a) Quantity supplied exceeds quantity demanded b) The price of the product will tend to

Which is true if equilibrium is present in a market?

a) Quantity supplied exceeds quantity demanded

b) The price of the product will tend to rise.

c) Quantity demanded exceeds quantity supplied.

d) Quantity demanded equals quantity supplied.

Step by Step Solution

3.44 Rating (157 Votes )

There are 3 Steps involved in it

Step: 1

The detailed answer for the above question is provided below ANSWER d Quantity demanded equ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Exploring Economics

Authors: Robert L Sexton

5th Edition

978-1439040249, 1439040249

More Books

Students also viewed these Economics questions

Question

Identify the link between disasters and health problems.

Answered: 1 week ago