The equilibrium price clears the market; it is the price at which___________

Assessment: JAMB UTME - Economics - 2017 Subject: Economics

Question 1 Report

The equilibrium price clears the market; it is the price at which___________
Answer Details
Equilibrium price is the price where the demand for a product or a service is equal to the supply of the product or service. At equilibrium, both consumers and producers are satisfied, thereby keeping the price of the product or the service stable.
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