THE EQUILIBRIUM PRICE IS REPRESENTED BY THE POINT WHERE A PRODUCT'...

18. - TEST BANK FOR BUSINESS A CHANGING WORLD 5TH CANADIAN EDITION BY FERRELL 18. - TEST BANK FOR BUSINESS A CHANGING WORLD 5TH CANADIAN EDITION BY FERRELL
TEST BANK FOR BUSINESS A CHANGING WORLD 5TH CANADIAN EDITION BY FERRELL
18. The equilibrium price is represented by the point where a product's supply and demand curves intersect.→ TrueFalseThe price at which the number of products that businesses are willing to supply is equal to the amount of products that consumers are willing to buy at a specific point in time is the equilibrium price. Accessibility: Keyboard NavigationBloom's: KnowledgeDifficulty: MediumLearning Objective: 01-04 Describe the role of supply; demand; True / False Question and competition in a free-enterprise system.