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What is the price called at which the quantity demanded is equal to the quantity supplied?
equilibrium price
If the price is less than the equilibrium price what is the relatiionship of quantity supplied to quantity demanded?
If the price is low, suppliers may well not wish to supply the full quantity that is demanded by consumers.The quantity demanded and quantity supplied determines the equilibrium price in the market. The quantity where these two are equal, that is where the market price is set.
How can one calculate excess demand in a market?
Excess demand in a market can be calculated by subtracting the quantity supplied from the quantity demanded at a given price level. If the quantity demanded is greater than the quantity supplied, there is excess demand in the market.
What is market clearing price?
Market clearing price is the price at which the quantity demanded of a product equals the quantity supplied.
What conditions lead to surplus?
When quantity supplied exceeds quantity demanded at a given price.
At equilibrium price the quantity is demanded always equal to the quantity supplied?
Yes, the equilibrium price equates the quantity supplied to the quantity demanded.
What is the price called at which the quantity demanded is equal to the quantity supplied?
equilibrium price
If the price is less than the equilibrium price what is the relatiionship of quantity supplied to quantity demanded?
If the price is low, suppliers may well not wish to supply the full quantity that is demanded by consumers.The quantity demanded and quantity supplied determines the equilibrium price in the market. The quantity where these two are equal, that is where the market price is set.
What is unique about an equilibrium price?
quantity demanded and quantity supplied are equal
How can one calculate excess demand in a market?
Excess demand in a market can be calculated by subtracting the quantity supplied from the quantity demanded at a given price level. If the quantity demanded is greater than the quantity supplied, there is excess demand in the market.
What is market clearing price?
Market clearing price is the price at which the quantity demanded of a product equals the quantity supplied.
What is the price at which the quantity demanded by consumers will equal the quantity supplied by produces called?
It is called the equilibrium price.
What is the price at which the quantity demanded by consumers will equal the quantity supplied by producers calle?
It is called the equilibrium price.
What is the price at which quantity demanded by consumers will equal the quantity supplied by producers called?
It is called the equilibrium price.
What conditions lead to surplus?
When quantity supplied exceeds quantity demanded at a given price.
In a market system what must take place for quantity demanded to continually be equated with quantity supplied?
In a market system, price fluctuations must occur for quantity demanded to continually be equated with quantity supplied.
What is the price at which the quantity demanded by consumers will equal the quantity supplied by producers is called what?
It is called the equilibrium price.
