Select all that apply. Select the items that describe what happens at the equilibrium price. Producers supply the exact goods th

Question

2 years ago

15

Select all that apply. Select the items that describe what happens at the equilibrium price. Producers supply the exact goods th

at consumers buy. Consumers have enough goods, at the given price. There are many shortages and surpluses. Producers use their resources efficiently. The whole economy wastes its resources.

Business

1 answer:

malfutka [58] · Answer 1 · 2022-01-14T10:50:37+03:00

Answers are:
<span>Producers supply the exact goods that consumers buy.
Consumers have enough goods, at the given price
</span><span>Producers use their resources efficiently

At the equilibrium price, the quantity bought= quantity sold. Consumers have enough goods at the given price, meaning that there isn't anyone who wants to buy the good at that price but can't, and producers use their resources efficiently.

The whole economy does not waste resources, since this is the market-efficient outcome, and there aren't many shortages or surpluses for the same reason. </span>