equilibrium is defined whensupply is limited and demand decreases.supply and demand meet.demand is higher…

equilibrium is defined whensupply is limited and demand decreases.supply and demand meet.demand is higher than supply.supply is higher than demand.

equilibrium is defined whensupply is limited and demand decreases.supply and demand meet.demand is higher than supply.supply is higher than demand.

Answer

Brief Explanations:

Market equilibrium is a core concept where the quantity of a good supplied by producers equals the quantity demanded by consumers, meaning supply and demand intersect or meet at a specific price and quantity. The other options describe situations of shortage (demand > supply), surplus (supply > demand), or a non-equilibrium market shift, not equilibrium itself.

Answer:

B. supply and demand meet.