Multiple Choice
Which of the following statements about demand and supply interaction is TRUE?
A) A market is said to be in equilibrium when the elasticity of demand equals the elasticity of supply.
B) For a market to be in equilibrium, the price and quantity that buyers are willing to accept must be greater than the price and quantity that suppliers are willing to offer.
C) The interaction of supply and demand determines the size of the market and the market price.
D) Demand determines price.
E) All of the above are true.
Correct Answer:
Verified
Correct Answer:
Verified
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