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bar0ahqijaz
bar0ahqijaz bar0ahqijaz
  • 07-09-2016
  • History
Answered

in 2-3 sentences, explain why there is no excess supply or demand of goods at the equilibrium price

Verified Answer :

Astrobrit
Astrobrit Astrobrit
  • 07-09-2016

Equilibrium is the point where supply and demand meet and the prices are set. Because the price is set as equilibrium (where supply and demand meet), there won't be an excess of either. However if you set the price above equilibrium, you move away from equilibrium and have disequilibrium which can create excess supply or excess demand.

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