The following statements define the term equilibrium price. Type in true or false in the spaces provided
Hint: T, F
1. Equilibrium price is the point at which demand and supply are equal. .
2. Equilibrium is the point where demand is higher and supply is low.
3. Equilibrium price only exist in a free market
4. Equilibrium price is a market middle ground where there is no surplus in quantity suppllied. .
5. Equilibrium price is a market middle ground where there is no defficiency in quantity demanded.
