select the correct answer. which statement defines equilibrium in a graph showing demand and supply curves…
select the correct answer. which statement defines equilibrium in a graph showing demand and supply curves? a. it is the point where the demand and supply curves intersect. b. it is the point where the demand and supply curves begin. c. it is the point on the demand curve where demand is highest. d. it is the point on the supply curve where supply is highest.
Answer
Brief Explanations:
In economics, equilibrium in a demand - supply graph occurs at the intersection of the demand and supply curves. At this point, the quantity demanded equals the quantity supplied.
Answer:
A. It is the point where the demand and supply curves intersect.