Which statement defines equilibrium in a graph showing demand and supply curves? It is the point where the demand and supply

Question

Which statement defines equilibrium in a graph showing demand and supply curves?

It is the point where the demand and supply curves intersect.

It is the point where the demand and supply curves begin.

It is the point on the demand curve where demand is highest.

It is the point on the supply curve where supply is highest.

in progress 0
2022-07-19T09:54:10+00:00 2 Answers 0

Answers ( 2 )

  1. Aubrey
    0
    2022-07-19T09:55:44+00:00

    I believe it is the point where the demand and supply curves intersect.

  2. Julia
    0
    2022-07-19T09:55:55+00:00

    The statement that defines equilibrium in a graph showing demand and supply curves is It is the point where the demand and supply curves intersect. Equilibrium price is the price at which the quantity supplied is equal to the quantity demanded. The equilibrium quantity is the point in which supply and demand intersect.

Leave an answer

Browse
Browse

45:5+15*4 = ? ( )