ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Where a supply curve and demand curve intersect
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Where the supply curve is greater than the demand curve
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Where the demand curve is greater than the supply curve
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At the price floor
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Detailed explanation-1: -The demand curve, D, and the supply curve, S, intersect at the equilibrium point E, with an equilibrium price of 1.4 dollars and an equilibrium quantity of 600. The equilibrium is the only price where quantity demanded is equal to quantity supplied.
Detailed explanation-2: -When the supply and demand curves intersect, the market is in equilibrium. This is where the quantity demanded and quantity supplied are equal. The corresponding price is the equilibrium price or market-clearing price, the quantity is the equilibrium quantity.
Detailed explanation-3: -The equilibrium price and equilibrium quantity occur where the supply and demand curves cross. The equilibrium occurs where the quantity demanded is equal to the quantity supplied. If the price is below the equilibrium level, then the quantity demanded will exceed the quantity supplied.
Detailed explanation-4: -Answer and Explanation: The point where the demand and supply curves intersect is the equilibrium.
Detailed explanation-5: -The equilibrium price (EP) is the price where the demand for a product or service balances its supply. On a graph, the intersection of the demand and supply curves shows the equilibrium price. It’s formula is Sq=Dq or quantity supplied=quantity demanded. More items