at the market price for a product, quality demanded equals the quantity supplied. there is no excess demand and no excess supply

Question

GrogVix [38]

3 years ago

6

at the market price for a product, quality demanded equals the quantity supplied. there is no excess demand and no excess supply

. what economic term describes this?

History

1 answer:

PilotLPTM [1.2K] · Answer 1 · 2022-02-12T15:43:52+03:00

PilotLPTM [1.2K]3 years ago

5 0

At the market price for a product, quality demanded equals the quantity supplied and there is no excess demand and no excess supply this is called "market equilibrium."