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An equilibrium price?

Economics
JAMB 1981
An equilibrium price?
  • A. keeps excess demand within limits
  • B. keeps excess supply within limits
  • C. generates the greatest possible demand and supply
  • D. generates the greatest possible profits
  • E. equates the quantity supplied to be equal to the quantity demanded.
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Correct Answer: Option E
Explanation
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts