Asked by
Kelsha Dennis
on Dec 08, 2024
Verified
The market will be in equilibrium if ________ is set ________ the equilibrium price.
A) a price floor; below
B) a price ceiling; below
C) actual price; above
D) actual price; below
Market Equilibrium
A situation where the quantity demanded of a good or service equals the quantity supplied, leading to a stable price.
Actual Price
The price at which a good or service is sold in the market, not taking into account discounts or premiums.
- Grasp the equilibrium concept in market economics and how it is achieved or altered by external interventions.
Verified Answer
AB
Learning Objectives
- Grasp the equilibrium concept in market economics and how it is achieved or altered by external interventions.