WAEC Economics 2011 Objective — Question 9
Question 9 of 50 from the West African Examinations Council (WAEC) Economics 2011 Objective paper, with the correct answer and a full explanation.
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Equilibrium price is the price at which quantity
- A. A. demanded is greater than quantity supplied
- B. B. supplied is greater than quantity demanded
- C. C. demanded is equal to quantity suppliedCorrect
- D. D. supplied equals quantity produced
Explanation
Equilibrium price is the price that equates demand with supply.
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