In an answer of at least two well-developed paragraphs, explain how supply and demand work together to reach the equilibrium price in the marketplace.

Question

Leon Vaughan

Social Studies

4 August, 10:46

In an answer of at least two well-developed paragraphs, explain how supply and demand work together to reach the equilibrium price in the marketplace.

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Answers (1)

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Lennon Harrington · Answer 1

Market equilibrium will be happening to take place as when supply and demand get into intersection at one place.

Explanation:

If the price is getting too much high, then we will be in the need of the surplus. But if the price is getting low, then there will be much shortage as well. Hence the marketplace would be working as to raise the price or lower it up until the time we will be getting the equilibrium.