asked 131k views
3 votes
Is the eggs market currently in equilibrium?
1) True
2) False

asked
User Twil
by
8.9k points

1 Answer

6 votes

Final answer:

The statement is false because sellers may be willing to sell for less than the equilibrium price in certain conditions.

Step-by-step explanation:

The statement “In the goods market, no seller would be willing to sell for less than the equilibrium price” is false. In an equilibrium market, the price is determined by the forces of supply and demand. If the price is above the equilibrium, sellers will have excess supply and may be willing to sell at a lower price to attract buyers. On the other hand, if the price is below the equilibrium, sellers may be unwilling to sell at that price because they could earn a higher price elsewhere.

answered
User ErocM
by
7.8k points

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