Question

Price of a commodity is determined at a point where:
(a) Demand exceeds
(b) Supply exceeds
(C) Demand equals supply
(d) none of these​

Answer 1

Answer:

(C) Demand equals supply

Explanation:

In fact, the market price of a commodity is determined (or reaches its competitive equilibrium) where the demand curve and the supply curve intersect — where the forces of demand and supply (also known as the impersonal market forces) are just in balance

Answer 2

Answer:

Demand equals supply

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