Question

Equilibrium price is the...

a. point where supply and demand meet
b. average price for all brands of the same product
c. price the government sets for a product
d. price charged for products of equal quality

Answer 1

point where supply and demand meet

Step-by-step explanation:

got it right on the test

Answer 2

Equilibrium Price is the price at which the amount of a product offered is equal to the amount of the product in demand. Therefore, the best answer is A.