Questions
FFB001 Practice 1 in-class test- Requires Respondus LockDown Browser
Single choice
Equilibrium in the market occurs when
Options
A.The quantity demanded exceeds the quantity supplied.
B.The quantity supplied exceeds the quantity demanded.
C.Quantity demanded equals quantity supplied.
D.There is no demand for the product.
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Step-by-Step Analysis
First, let's identify the core concept: market equilibrium occurs where the quantity demanded equals the quantity supplied, meaning the market clears with no inherent pressure for price to change, assuming other factors are held constant.
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