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Which occurs during market equilibrium? Check all that apply. Supply and demand meet at a specific price. Supply is slightly greater than demand. Supply and demand meet at a specific quantity. Supply and demand meet at a demand point. Supply and demand meet at a supply point.

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lucic

Answer

During market equilibrium;

Supply and demand meet at a specific price.

Supply and demand meet at a specific quantity

Explanation

At market equilibrium, the supply and demand curves intersect to identify a point where the quantity demanded is equal to the quantity supplied.The price at this point is the equilibrium price and the quantity obtained is the equilibrium quantity.

ayfat23

Statements that give description as regards market equilibrium in this question are:

Supply and demand meet at a specific price.

Supply and demand meet at a specific quantity

  • A market can be said to be in equilibrium where by there is a balance i.e when quantity demanded as well as quantity supplied is equal.

  • if at the market price the quantity demanded is equal to the quantity supplied.

  • The price whereby both quantity demanded as well as quantity supplied considered to be equal is referred to as equilibrium price.

Therefore, Equilibrium bring about meeting of Supply and demand at specific quantity.

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