Economy, asked by DonaldSinha, 2 months ago

Define equilibrium level of output and price in case of comparative Market by using demand and supply curve.

Answers

Answered by itzmissmystry

Explanation:

The equilibrium price and equilibrium quantity occur where the supply and demand curves cross. The equilibrium occurs where the quantity demanded is equal to the quantity supplied. If the price is below the equilibrium level, then the quantity demanded will exceed the quantity supplied.

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