WAEC Economics 2017 Objective — Question 16
Question 16 of 50 from the West African Examinations Council (WAEC) Economics 2017 Objective paper, with the correct answer and a full explanation.
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Another term for equilibrium price is
- A. A. price floor
- B. B. demand price
- C. C. market clearing priceCorrect
- D. D. satisfactory price
Explanation
At equilibrium, the market is cleared. Thus, another name for equilibrium price is market clearing price.
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