Match the term with the appropriate definition.
-Equilibrium point
A) comprised of many buyers and sellers and undifferentiated products
B) have the power to influence the market price and enjoy pricing power
C) intersection of units supplied and units demanded which shows the corresponding price
D) accept the prevailing market price and sell each unit at that given market price

Question

Quizplus · Accepted Answer

The equilibrium point is where the quantity of goods supplied equals the quantity of goods demanded, determining the market price.

Match the Term with the Appropriate Definition