-Using the above figure, at which price is there neither excess quantity demanded nor excess quantity supplied?
A)P₁
B)P₂
C)P₃
D)none of these

Name: -Using the above figure, at which price is there neither excess quantity demanded nor excess quantity supplied? A)P₁ B)P₂ C)P₃ D)none of these
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Question

-Using the above figure, at which price is there neither excess quantity demanded nor excess quantity supplied?
A)P₁ 
B)P₂ 
C)P₃ 
D)none of these

Quizplus · Accepted Answer

At price P₂, the quantity demanded equals the quantity supplied, indicating market equilibrium with no excess demand or supply.

-Using the Above Figure, at Which Price Is There Neither