The point of intersection between the supply and demand curves determines the **equilibrium** price and quantity values.

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, the market is considered to be in balance, and there is neither a surplus nor a shortage of the good. When the demand curve (which represents consumers' willingness to purchase at various prices) intersects the supply curve (which represents producers' willingness to sell at various prices), the resulting coordinates indicate the equilibrium price (on the y-axis) and equilibrium quantity (on the x-axis).

Thus, in your multiple-choice question, the correct answer is **equilibrium**.

Question

The point of intersection between the supply and demand curves determines the **equilibrium** price and quantity values.

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, the market is considered to be in balance, and there is neither a surplus nor a shortage of the good. When the demand curve (which represents consumers' willingness to purchase at various prices) intersects the supply curve (which represents producers' willingness to sell at various prices), the resulting coordinates indicate the equilibrium price (on the y-axis) and equilibrium quantity (on the x-axis).

Thus, in your multiple-choice question, the correct answer is **equilibrium**.

Knowee AI · Accepted Answer

The point of intersection between the supply and demand curves determines the **equilibrium** price and quantity values.

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, the market is considered to be in balance, and there is neither a surplus nor a shortage of the good. When the demand curve (which represents consumers' willingness to purchase at various prices) intersects the supply curve (which represents producers' willingness to sell at various prices), the resulting coordinates indicate the equilibrium price (on the y-axis) and equilibrium quantity (on the x-axis).

Thus, in your multiple-choice question, the correct answer is **equilibrium**.

The point of intersection between the supply and demand curves determines the _____ price and quantity values.Multiple choice question.equitableequilibrium

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The point of intersection between the supply and demand curves determines the _____ price and quantity values.

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