Question
The market equilibrium for a commodity is determined by:
Answer: Option C
Answer: (c)
Market Equilibrium is determined when the quantity demanded of a commodity becomes equal to the quantity supplied.
The price determined corresponding to market equilibrium is known as equilibrium price and the corresponding quantity is known as equilibrium quantity.
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Answer: (c)
Market Equilibrium is determined when the quantity demanded of a commodity becomes equal to the quantity supplied.
The price determined corresponding to market equilibrium is known as equilibrium price and the corresponding quantity is known as equilibrium quantity.
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