Economy, asked by darshandarvekar11, 4 days ago

When the quantity demanded of a goods is equal to the quantity supplied of that goods, then

Answers

Answered by vipersamad
0

Answer:

this is you answer

Explanation:

The equilibrium is the only price where quantity demanded is equal to quantity supplied. At a price above equilibrium like $1.80, quantity supplied exceeds the quantity demanded, so there is excess supply.

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Answered by NamrataSachdeva
0

Answer:

When the quantity demanded of a good is equal to the quantity supplied of that good, then it is known as the market equilibrium point.

Explanation:

When the quantity demanded of a good is equal to the quantity supplied of that good, this is known as the market equilibrium point. At this point, the market is considered to be in balance, and there is no excess supply or demand for the good. The point where the demand and supply curves intersect is where the equilibrium price and amount are established.

  • At the equilibrium point, buyers are willing to buy the exact amount of the good that sellers are willing to sell, and there is no shortage or surplus of the good.
  • This state is referred to as market clearing. In this situation, the market is said to be efficient because goods are being produced and consumed at the optimal level.
  • Any deviation from the equilibrium price and quantity will result in either a shortage or surplus, which will eventually drive the market back to the equilibrium point.

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