market equilibrium is determined by which of the following? the point where there is excess demand for a…
market equilibrium is determined by which of the following? the point where there is excess demand for a product the point where quantity supplied is greater than quantity demanded the point where the supply and demand curves intersect the point where quantity demanded is greater than quantity supplied
Answer
Brief Explanations:
Market equilibrium occurs when the quantity demanded equals the quantity supplied. Graphically, this is represented by the intersection of the supply and demand curves. Excess demand or supply (where quantity demanded is not equal to quantity supplied) represents disequilibrium.
Answer:
the point where the supply and demand curves intersect