A market is in equilibrium when - WAEC Economics 2018 Question
A market is in equilibrium when?
A
there is no government intervention
B
the demand is the same as the supply
C
buyers and sellers are free to sell more goods
D
there is no free entry and exit
correct option: b
Market equilibrium is a market state where the supply in the market is equal to the demand in the market. Theequilibrium price is the price of a good or service when the supply of it is equal to the demand for it in themarket.
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