which of the following is true of the equilibrium price of a good or service A there is no incentive for the price to change at

Question

3 years ago

13

which of the following is true of the equilibrium price of a good or service A there is no incentive for the price to change at

that point. B it occurs where the market demand and supply curves intersect. C it will change when consumer preference change.

Business

1 answer:

lys-0071 [83] · Answer 1 · 2022-04-01T03:55:40+03:00

Answer:

B it occurs where the market demand and supply curves intersect.

Explanation:

The equilibrium price is the current market price, as determined by the forces of demand and supply. It reflects the price at which buyers and sellers agree for a specified quantity of a product in a given time.

In a graph containing both the demand and supply curve, the equilibrium price is the two curves' intersection. At this price, there will be excess or short supply in the market.