MCQ on market equilibrium
Understand the Problem
The question seems to be requesting multiple choice questions (MCQs) related to the concept of market equilibrium, which includes topics such as supply and demand, price determination, and market forces.
Answer
Quantity supplied equals quantity demanded.
Market equilibrium is when the quantity supplied equals the quantity demanded.
Answer for screen readers
Market equilibrium is when the quantity supplied equals the quantity demanded.
More Information
In economics, market equilibrium is achieved when market supply and demand balance each other, resulting in stable prices.
Tips
A common mistake is confusing the concept of equilibrium with simply 'no change in price,' while it actually means supply and demand are balanced.
Sources
- Chapter 7 Multiple Choice Questions - Oxford Learning Link - learninglink.oup.com
- (Multiple Choice) Market equilibrium in a specific market is... - homework.study.com
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