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The equilibrium price clears the market; it is the price at which ________ _________
  • a)
    Everything is sold
  • b)
    Quantity demanded equals quantity supplied
  • c)
    Excess demand is zero
  • d)
    b and c
Correct answer is 'D'. Can you explain this answer?
Verified Answer
The equilibrium price clears the market; it is the price at which ____...
A market-clearing price is the price of a good or service at which quantity supplied is equal to quantity demanded, also called the equilibrium price. The theory claims that markets tend to move toward this price.
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Most Upvoted Answer
The equilibrium price clears the market; it is the price at which ____...
The correct answer is' D'Equillibrium price is calculated by forces of demand and supply.It is the stage where QD=QS. As the Quantity demanded is equal to Quantity Supplied,there will be no excess demand.(i.e.excess demand will be 0)
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The equilibrium price clears the market; it is the price at which ________ _________a)Everything is soldb)Quantity demanded equals quantity suppliedc)Excess demand is zerod)b and cCorrect answer is 'D'. Can you explain this answer?
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