answer the question below. type your response in the space provided. what is the price called at which the…
answer the question below. type your response in the space provided. what is the price called at which the quantity demanded is equal to the quantity supplied?
Answer
Answer:
Equilibrium price
Brief Explanations:
The equilibrium price is the market price where the quantity of goods supplied is equal to the quantity of goods demanded. This is the point at which the demand and supply curves intersect. At this price, the market is considered to be in a state of balance because the quantity consumers want to buy is exactly equal to the quantity producers want to sell.