Determining Market Price Answers
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Disequilibrium occurs when
A
quantity supplied is equal to quantity demanded.B
quantity supplied does not equal quantity demanded.C
supply coordinates with price.D
supply coordinates with quantity.2
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Equilibrium is defined when
A
supply is limited and demand decreases.B
supply and demand meet.C
demand is higher than supply.D
supply is higher than demand.3
Which occurs during market equilibrium? Select two options.
A
Supply and demand meet at a specific price.B
Supply is slightly greater than demand.C
Supply and demand meet at a specific quantity.D
Supply and demand meet at a demand point.E
Supply and demand meet at a supply point.4
The graph shows excess supply.Which needs to happen to the price indicated by p2 on the graph in order to achieve equilibrium?
A
It needs to be increased.B
It needs to be decreased.C
It needs to reach the price ceiling.D
It needs to remain unchanged.Did you find these answers helpful?
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