Question

You sell jeans in a market without price controls. you want to charge the _____ price so consumers will demand all the jeans you supply. highest lowest equilibrium

Answer 1

Answer:

Equilibrium

Explanation:

If the price charged for the goods is high then there will be excess supply of goods, as not many consumers will demand it due to the price being high. So most of the stock will remain unsold.

If the price charged for the goods is low then there will be excess demand of goods, as many consumers would want to buy the jeans due to the price being low. Therefore, the more demand in comparison to the supply of goods available.

In case of equilibrium, the result would be neither excess in supply nor in excess in demand. Hence, the consumers will buy all jeans without the problem of unsold stock or more demand of the jeans.

Answer 2

EQUILIBRIUM. That is the answer for the problem