GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What represents how much a business should charge for an item?
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supply curve
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equilibrium point
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equilibrium price
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demand curve
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Explanation:
Detailed explanation-1: -An equilibrium price, also known as a market-clearing price, is the consumer cost assigned to some product or service such that supply and demand are equal, or close to equal. The manufacturer or vendor can sell all the units they want to move and the customer can access all the units they want to buy.
Detailed explanation-2: -The equilibrium price is also sometimes called the market-clearing price.
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