Market equilibrium occurs at the point where the supply and demand curve cross. This is the point at which the quantity of goods supplied equals the quantity of goods demanded, resulting in no excess supply or shortage in the market.
Market equilibrium occurs ____________________________.
When consumer surplus is greater than producer surplus
When any deviation from market equilibrium results in an improvement in welfare
When marginal benefits exceed marginal costs
At the point where the supply and demand curve cross
1 answer
1 answer