The point at which the supply curve and the demand curve intersect on a graph is referred to as the ________.
A) equilibrium price
B) decision point
C) surplus price
D) perfect price

Question

Quizplus · Accepted Answer

The point at which the supply and demand curves intersect is known as the equilibrium price. It is the price at which the quantity supplied equals the quantity demanded, resulting in no surplus or shortage of goods or services.

The Point at Which the Supply Curve and the Demand