145k views
3 votes
Suppose a market is in equilibrium. the area between the demand curve and the market price is:

User SandWyrm
by
7.0k points

1 Answer

1 vote
Equilibrium- simply mean a market that has equal supply and demands.

The demand curve and market price is levelled- off which means they are equivalent. The quantity/ supply of product is equal to customer's demand.
For example: orange value (5.00) for supply equals demand an orange costs (5.00) to pay for.

Hope this helps.
User Martin Wantke
by
7.9k points

No related questions found