When quantity supplied equals quantity demanded, there is a(n): a. equilibrium, and the price will not change. b. surplus, and t
he price will fall. c. shortage, and the price will rise. d. equilibrium, and the price may rise or fall.
1 answer:
Answer:
a. equilibrium, and the price will not change
Explanation:
At equilibrium, quantity supplied equals quantity demanded. There is no incentive for prices to change.
Above the equilibrium price, there is a surplus, and the price will fall.
Below the equilibrium price, there is a shortage and prices would rise.
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