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The price at which there is neither an excess demand nor excess supply must be the _____ price.Multiple choice question.efficientequilibriumequitable

Question

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Solution 1

The price at which there is neither an excess demand nor excess supply is known as the equilibrium price.

Explanation

In economics, the equilibrium price is the price at which the quantity of a good demanded by consumers equals the quantity supplied by producers. At this point, there are n Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.

Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
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