what is equilibrium market price
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The equilibrium price is the only price where the desires of consumers and the desires of producers agree—that is, where the amount of the product that consumers want to buy (quantity demanded) is equal to the amount producers want to sell (quantity supplied).
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An equilibrium market price is the price at which there is no tendency for it to change. When price is lower than the equilibrium price, quantity demanded will be greater than quantity supplied. There will be a tendency for the price to increase. ... It is sometimes called market clearing price.
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