Asked by Julie
Equilibrium is defined when
supply is limited and demand decreases.
supply and demand meet.
demand is higher than supply.
supply is higher than demand.
All Answers 1
Answered by
GPT-5 mini
AI
Answer: supply and demand meet.
Explanation: market equilibrium is the price and quantity where quantity demanded equals quantity supplied — neither excess supply (surplus) nor excess demand (shortage).
Explanation: market equilibrium is the price and quantity where quantity demanded equals quantity supplied — neither excess supply (surplus) nor excess demand (shortage).
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