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Which of the following best defines the term 'equilibrium price'? (2 marks)
Suggested Answer: A
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32 comments · newest first
SU
Susana
11 months ago
C is wrong, it’s all about balance!
LI
Lizette
11 months ago
Wait, are we sure it’s not B? Sounds kinda right too.
AI
Aimee
12 months ago
I thought it was A at first, but D makes more sense.
BE
Beatriz
12 months ago
Definitely D, that’s the correct definition.
MI
Minna
1 year ago
Equilibrium price is when supply meets demand!
TA
Tamar
1 year ago
I'm a bit confused because I thought equilibrium was about equal value, but that might be option B?
LA
Latrice
1 year ago
I feel like I saw a similar question in practice, and it was definitely about matching supply and demand. D sounds right.
TY
Tyra
1 year ago
I remember something about demand exceeding supply leading to higher prices, but I'm not sure if that's relevant here.
BR
Brock
1 year ago
I think equilibrium price is when supply and demand are balanced, so maybe it's option D?
PA
Paola
1 year ago
I feel pretty good about this question. The definition of equilibrium price is the point where the market clears, so supply and demand are in balance. That makes option D the right answer.
TA
Tammi
1 year ago
Whoa, this is a tricky one. I'm not super confident in my understanding of equilibrium price. I'll have to review my notes and try to reason through the options before making a guess.
LO
Loreen
1 year ago
Okay, I've got this. Equilibrium price is the point where the quantity supplied equals the quantity demanded. So option D is the correct answer - "The price at which the level of supply in a market matches the level of demand."
EV
Evangelina
1 year ago
Hmm, I'm a bit unsure about this one. I know equilibrium price has something to do with supply and demand, but I'm not totally clear on the exact definition. I'll have to think this through carefully.
AL
Aleta
1 year ago
This seems like a straightforward question about equilibrium price. I think the key is to understand that equilibrium is where supply and demand are balanced, so option D looks like the best answer.
NO
Noel
1 year ago
I've seen questions like this before. I'm pretty sure the answer is to set the Polygon Assignment Policy to the Lowest Level.
DW
Dwight
1 year ago
Equilibrium price, you say? That's when the market is as chill as a cucumber. Gotta be option D, my dudes.
LI
Lino
1 year ago
Definitely, it's like the calm before the storm in the market. Option D is the way to go.
KE
Kerrie
1 year ago
Yeah, equilibrium price is all about that balance. Option D makes the most sense.
CR
Crista
1 year ago
I think it's option D too. When supply and demand are balanced, that's when things are chill.
BR
Brynn
2 years ago
Equilibrium price? Isn't that when the market is in a perfect state of harmony? I'll go with D, the classic definition.
CH
Charlette
2 years ago
Equilibrium price, where supply and demand are in balance? That's a no-brainer. D is the way to go.
NE
Nell
1 year ago
User 3: Agreed, it's the price where supply matches demand.
SH
Shonda
1 year ago
Definitely, D is the equilibrium price where supply matches demand.
HI
Hillary
1 year ago
Yes, D is the price where supply and demand are equal.
KA
Kattie
1 year ago
User 2: Definitely, that's option D.
JE
Jesus
1 year ago
I agree, D is the correct answer.
LA
Lashon
1 year ago
User 1: Equilibrium price is when supply and demand are balanced.
FA
Fanny
2 years ago
Ah, the old equilibrium price question. I remember learning about this in Economics class. Option D is the winner for sure.
LA
Lamar
2 years ago
Hmmm, I'm pretty sure the equilibrium price is the price where supply and demand intersect. Option D seems to be the most accurate definition.
HO
Hortencia
2 years ago
I'm not sure, but I think it's A. Demand exceeding supply makes more sense to me.
JE
Jestine
2 years ago
I agree with Andrew, because equilibrium price is when supply equals demand.
AN
Andrew
2 years ago
I think the answer is D.