True or false? Market equilibrium occurs at the intersection of the supply and demand curves.
Question:
True or false? Market equilibrium occurs at the intersection of the supply and demand curves.
Equilibrium:
Equilibrium is a state in which influence or opposing forces are at a balanced state and stable condition. The opposing forces cancel each other equally; thus no more change occurs. An example of equilibrium is a situation where hot and cold air circulates in a room simultaneously so that the room's overall temperature does not change at all.
Answer and Explanation: 1
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View this answerMarket equilibrium occurs when the curve between supply and demand intersect in economics. During market equilibrium, supply and demand on the market...
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Market Equilibrium in Economics: Definition & Examples
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Chapter 3 / Lesson 10
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What is market equilibrium? Learn the market equilibrium definition and study examples. See how supply and demand impact prices when a market is in equilibrium.
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