Answered: When quantity supplied equals quantity…

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Marketing

When quantity supplied equals quantity demanded the market is in O shortage O equilibrium O surplus

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Question

When quantity supplied equals quantity demanded the
market is in
O shortage
equilibrium
O surplus

Expert Solution

Step 1: Introduction

A market equilibrium occurs when the quantity of a good or service supplied equals the quantity demanded at a given price. There is no upward or downward pressure on prices at equilibrium because all buyers and sellers are satisfied with the current price and quantity.

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